Daily FNArena News

A move to better fuel economy in cars and trucks in the US may reduce gasoline demand but Barclays Capital suggests any change won’t impact on the global oil market balance.

The May survey by Westpac has in essence revealed no major changes from April about consumers’ views on unemployment or inflation.

Stockbroking analysts suggest it remains too early to look into buying James Hardie shares.

According to GaveKal the recent run in the oil price is not supported by fundamentals but Barclays Capital has a different view.

After a strong gain in April the Westpac-Melbourne Institute survey of Consumer Sentiment fell in May in response to a Federal Budget seen as offering little to consumers.

Southern Cross Equities analyst Stuart Roberts reports the come back of risk appetite has been good for biotechnology stocks this year.

Tougher retail conditions has seen surfwear group Billabong cut earnings guidance and raise equity, the result being brokers no longer see the stock’s share price premium as justified.

The “green shoots” stock rally and signs of credit market easing were enough for the RBA to decide on a wait-and-see approach at this month’s meeting.

Poor harvests in India and elsewhere should offset higher Brazilian output and so keep upward pressure on sugar prices.

The rally since March has brought investors some very close correlations in asset classes and prices. Will they hold?