Daily FNArena News

There were few surprises in the ERA quarterly production report as the company gets back to normal after flooding impacted on operations in the first half of 2007.

The Australian economy is booming, headline prices are raging, and both government contenders are intent on fiscal stimulus. The RBA is under the pump.

The leading index from Westpac and the Melbourne Institute has surprised with a bounce in August.

US regional bank earnings reports reflected ongoing credit market concerns last night as oil pushed ever upward.

The Howard Government has announced tax cuts on the back of stronger than expected revenues but the move is likely to add to the current inflationary pressures in the Australian economy.

Shocked analysts have lost all confidence in AGL management following yesterday’s profit downgrade.

Publishing & Broadcasting’s de-merger proposal has been delayed as changes to tax treatments are assessed, brokers taking the view the risk the deal does not proceed are increasing.

The Dow fell over 100 points last night as Wall Street was reminded the credit crunch hasn’t gone away. Global tensions drove oil higher.

What will happen to financial markets under what is increasingly looking like a change of government?

ANZ Bank notes the appetite for risk is returning to global markets as credit spreads narrow and equities push higher.