Daily FNArena News

Consensus at a gathering of hedge fund managers is that the credit crunch will continue and probably get worse.

As earnings confession season continues Mirvac is the latest to revise guidance lower, brokers being quick to cut estimates and price targets as a result.

There will be no immediate oil price relief from increased Saudi production, leaving the Fed with a difficult rate decision on Wednesday.

Analysts are angry that the fallen Babcock empire is as much to do with serially inadequate disclosure as it is to do with poor management.

De-stocking has meant weak Chinese demand for copper but Barclays Capital expects this will soon end and the increased demand will push up the price of the metal.

QMastor is a small company doing big things in mining logistics software.

Flight Centre has lifted earnings guidance for the current year but brokers see increasing headwinds in FY09 and so have dropped price targets significantly.

Transpacific Industries rates quite highly among brokers in the FNarena database at current levels but Austock has downgraded its rating to Sell on concerns earnings won’t meet market expectations.

Weekly musings by your editor. The world is changing and so are investment views. Overall risk appetite has become the main victim.

The RBS has advised clients to brace for a fully-fledged crash in global stock and credit markets in the next three months.