Daily FNArena News - Australia

In the wake of the RBA double-cut, FIIG points out that major Australian fixed rate senior bonds (including banks) have returned over 10% over the past 12 months.

Woodside has agreed to sell part of its stake in the Browse LNG project and brokers have mostly responded positively to the news.

You won’t find many fans of Treasury Wine Estate among the analyst fraternity, but one broker has just raised its target price by 27% in anticipation of a significant shift in fortunes.

The RBA has surprised most in the market today by effectively delivering two rate cuts in one hit, judging such a quantum to be “necessary”.

The RBA has today cut the cash rate to 3.75% in a surprise 50bps cut.

There were signs of improvement in Macquarie’s FY12 result but little light yet at the end of the tunnel other than buyback support.

JB Hi-Fi has revised earnings guidance lower to reflect strong margin pressure and brokers have adjusted estimates and targets accordingly.

Strong sales and margins helped ResMed beat expectations with its March quarter profit result and brokers have responded by lifting forecasts and price targets for the stock.

Regis Resources reported solid production in the March quarter and continues to deliver an impressive track record as new projects are developed to boost output.

The market will ignore Newcrest’s promising growth opportunities altogether until such time as it can deliver on present day production guidance.