Daily FNArena News - Australia

Australia has serious challenges ahead, says Macquarie, which is why it and other brokers are turning defensive.

While share price gains in July mean the stock offers less value, Macquarie continues to rate Aston as a Buy given the company is a ripe takeover target in the Australian coal sector.

A snapshot of economist responses to today’s June quarter CPI result.

RBA governor Glenn Stevens suggests the Australian consumer won’t be cautious forever, but he does believe productivity is the key to eternal happiness.

AGM commentary from Campbell Brothers has been accompanied by an increase in interim earnings guidance. Stockbrokers have reacted by lifting forecasts, targets and one rating.

With its legacy assets in decline, AWE looks to shale as the Australian energy sector continues to stumble.

PanAust delivered June quarter production in line with expectations and continues to offer development upside, but valuation issues have prompted two downgrades in ratings.

A better than expected quarterly production report and some exploration success appears priced in for now, but longer-term Regis Resources remains attractive.

The quarterly production report by Newcrest showed costs are rising, but stockbrokers say the main story remains the potential of Wafi-Golpu and future production expansion.

Woolworths delivered a solid quarterly sales result and reiterated earnings guidance, enough to keep the company in favour with a majority of brokers.