Daily FNArena News

The index of consumer confidence by Westpac/MI reached its highest level ever this month.

The Dow was up 134 points in early trade on a small CPI rise, but lost nearly 100 points of that gain later in the session.

For UXA it presents the opportunity to have a class act in on the exploration of uranium. For Newcrest it’s a hope that gold will also be found.

The US economy is slowing but global economic conditions have improved from last year, so the environment for riskier assets remains positive.

Santos will buyback $300m in shares offmarket and pay a significant fully franked dividend, but shareholders better account for the risks and returns when assessing whether to get involved.

For at least six months, stock analysts have declared Leighton overvalued. The market has had different ideas, doubling the share price over that time.

Austock Securities sees benefits for the Australian players if the domestic grain market follows the lead of the Canadian market and deregulates.

So awash with cash is the world, looking for a place to invest, that hedge funds have sprung up in more and more diverse and exotic investment areas – art, wine, even football players.

Further reform of the Chinese financial landscape has been announced. Expect more tightening as well.

Brokers have finalised their reviews of bank profit results in recent weeks and made minor changes to estimates, CBA being the winner and St George the loser in the process.