Daily FNArena News - Australia

Both Qantas and Virgin Blue are cheap but stockbroker Moelis states valuation on its own is not enough for investors looking to invest in airlines.

Fleetwood has seen Rio Tinto step in to fill some accommodation lost when Woodside reduced its quota at the Searipple village but a flat earnings profile through FY12 sees Moelis retain a Hold rating.

A survey of fund mangers by Russell Investments has shown a more uncertain outlook, with defensive assets currently favoured over growth assets.

Foster’s is now in play, but stockbrokers say SABMiller will need to lift its offer for a deal to be done.

The Westpac/MI Leading Indicator is now below long term trend, suggesting the RBA won’t be tightening further anytime soon.

MACA Limited has provided solid earnings guidance despite some disruptions in the June half. DJ Carmichael retains a Buy rating on the stock.

A decisive equity raising has saved air conditioning installer Hastie from a near death experience, brokers suggest.

The acquisition of another project in Indonesia and the emergence of a strong major shareholder has transformed Kangaroo Resources.

Brokers agree the current OceanaGold share price is offering a free option on the now de-risked Didipio project.

A snapshot of economist responses to yesterday’s speech by RBA governor Glenn Stevens.