Daily FNArena News - Australia

Consolidation in the Australian coal sector looks set to continue, with Whitehaven Coal and Aston Resources proposing a merger of equals.

Despite the trend deteriorating around the world, NAB economists remain more upbeat about prospects for Australia in 2012.

Brokers have come back from a Wesfarmers site visit with earnings estimates and price targets lowered and, in the case of UBS, a downgrade in rating.

After its spectacular collapse in 2007, Centro is back under a new structure. The new model is much more appealing to analysts.

Citi has initiated with a Neutral rating on FKP Property Group, the broker seeing both upside and downside risks in play at present.

The RBA decided that the time it is taking for Europe to resolve its issues provides a threat to economic activity, and hence the central bank took advantage of some room to move.

The RBA decided today to reduce its cash rate by 25bps to 4.25%.

JP Morgan has initiated coverage on iron ore play Grange Resources with an Overweight rating, bringing to five the total of positive views on the stock among brokers in the FNArena database.

JP Morgan has initiated coverage on Bradken with an Overweight rating, bringing to seven the number of brokers in the FNArena database rating the stock as a Buy.

Attractive production growth and solid exploration potential see UBS initiate coverage on Regis Resources with a Buy rating.