Daily FNArena News

The company may no longer be a takeover target but a better than expected production report has led to some upgrades for Macarthur Coal, both ABN Amro and UBS seeing value at current levels.

Weekly musings by your editor. Why do we so often forget to pay attention to the wider context?

Another month, another set of weak building approval figures, another opportunity for economists to argue, erroneously, that Australian house prices and rents should rise.

Following an accretive acquisition in the US and revised earnings guidance brokers see upside earnings risk for Bradken given ongoing strength in the company’s markets.

Gaming machine maker Aristocrat has disappointed the market by cutting 3-month old earnings guidance, leading brokers to suggest outperformance is unlikely in the medium-term.

Industry consultant TradeTech left its weekly spot price indicator for U3O8 unchanged.

According to GaveKal the Aussie dollar’s strength has been due to its attraction in the carry trade but if rates come down as the economy slows the currency is likely to tumble.

National Australia Bank’s June quarter survey of business conditions show times are getting tougher as the economic slowdown has been sharper than expected.

A dour IMF global update added to the general gloom surrounding financials overnight, while Merrill Lynch takes some drastic measures.

ERA posted a mixed half-yearly profit result and as a result brokers are considering the value of the stock with ABN Amro seeing it as fairly priced while Citi remains bullish.