Daily FNArena News

As is always the case, a strong production result from the uranium miner threw up just as many questions as answers.

While still negative the Westpac-Melbourne Institute Leading Index continues to improve modestly.

Steel industry consultant MEPS expects global steel output will be down around 12% this year, an outcome that would have earnings implications for the Australian companies in the sector.

National Australia Bank’s monthly survey of business conditions and confidence levels showed gains over the May results, but not enough for the bank to lift its economic growth forecasts.

Bank of America Merrill Lynch sees scope for earnings improvement in Foster’s and so upgrades to a Buy rating.

Despite last week’s falls, analysts are maintaining higher oil price forecasts.

Stockbrokers remain cautious on Minara given the company’s high cost of production and the subdued outlook for nickel prices.

Westpac has updated its economic outlook for Australia and the other major economies, its numbers suggesting a return to modest growth next year everywhere bar Europe.

Weekly Musings from your editor. I have been trying to determine where the value is on a two year horizon in the share market.

Economic data releases out of China will attract a lot of attention next week given relatively limited releases elsewhere.