Daily FNArena News - Australia

Woolworths delivered a solid Q4 sales result despite ongoing price deflation but brokers continue to see conditions for the retailer as challenging.

BIS Shrapnel’s 15-year forecast for the Australian economy sees a non-mining recovery as becoming the primary driver of growth.

Ten Network has sold its Eye outdoor business and while the transaction will help address the balance sheet ratings and weak TV advertising remain issues for the company in the view of brokers.

Quality assets and management, production growth and some blue sky from exploration have generated increased broker interest in emerging gold producer Regis Resources.

With the household credit and asset price bubble now over, households have simply reverted to spending patterns of a generation ago. Meanwhile, retailers may at least be looking at some positive results this earnings season.

Goldman Sachs has initiated coverage on engineering and environmental services group Cardno with a Neutral rating, with valuation preventing the broker taking a more positive view.

Another broker has joined those warning that if margins don’t improve for Alumina Ltd a capital raising may be on the cards.

The minutes of the July RBA meeting confirms the central bank’s surprise over Australia’s March GDP numbers and thus its decision to stay on hold.

A decision by BMA to purchase its own locomotives and lower coal haulage volumes imply downside earnings risk for QR National.

BA Merrill Lynch has initiated coverage on Evolution Mining with a Buy rating, seeing the stock as an attractive mid-tier producer with strong leverage to the gold price and increases in reserves.