Daily FNArena News

Stocks in Asia, Europe and elsewhere suffered huge falls yesterday and overnight as all confidence is lost in the financial sector and the Bush rescue package is seen as inadequate.

The December quarter PPI was much lower than expected, but not powerful enough to necessarily sway the RBA from its likely course.

Last week’s quarterly report showed challenges remain for Iluka and in the view of RBC Capital Markets there is still little value in the stock despite it falling 28% in recent months.

Citi is positive on the uranium sector and following a review has initiated coverage on both ERA and Paladin with Buy ratings.

Global inflation is poised to regain centre stage this week. The US calendar is light.

Investors banking on a relief rally the coming week be warned: there might be a nasty surprise in store still.

According to Barclays Capital global grain markets have undergone a structural change in recent years thanks to growth in biofuels and increased demand from China and this should support further gains.

ANZ’s overview of businesses in Australia shows continued growth in output, but rising cost pressures suggests profitability has peaked this cycle.

Mineral sands group Iluka posted a solid December quarter production result but with costs and falling zircon prices still challenges to be overcome opinions remain divided on the stock.

Australian Pharmaceutical Industries is not exactly flavour of the month for investors but as with Deutsche Bank last month Southern Cross Equities sees value in the stock at current levels.