Power supply problems at South Africa’s Eskom may impact on available supply of uranium this year, but it hasn’t stopped the weekly spot price from falling below US$75/lb.
While a 25bps rate hike today is as good as given it is more than possible banks will add up to another 15bps on lending rates. A 50 point hike by the RBA is not beyond the bounds.
While the trend remains in favour of further US dollar weakness ANZ Bank doesn’t see this as translating to further Australian dollar strength as the currency appears to have lost some momentum.
There could be more than just stormy weather ahead for Insurance Australia as assurances from management on the company’s capital position are brought into question.
As expected bad weather conditions have impacted on CLSA’s monthly China Purchasing Managers’ Index.
DUET Group delivered with a slightly better than expected profit result and the solid cash flow and distribution outlook sees brokers remain broadly positive on the stock.
The TD Securities – MI Monthly Inflation Gauge shows inflationary pressures remain elevated, meaning more increases in interest rates can be expected.
Increased demand from professionals and international students and ongoing supply constraints mean inner Sydney apartment rents will continue to increase according to market forecaster BIS Shrapnel.
Australia, NZ, Japan, Canada, the EU and UK all make rate decisions this week, amidst an avalanche of global economic data.
Perilya has delivered another disappointing earnings result and brokers have slashed earnings forecasts as a result, with Citi and Macquarie also downgrading the stock from Buy to Hold.
