Daily FNArena News - Australia

A high number of claims has put QBE Insurance’s margins under pressure, with brokers reacting by cutting earnings estimates for the full year.

National Australia Bank’s Monthly Business Survey for May showed a further softening in the economy, leading to the bank trimming its GDP growth forecast for the full year.

As part of an update on earnings Emeco Holdings has indicated capex spending will increase and brokers see this as a positive for earnings growth in coming years.

Two new Buy ratings today take mining services company Ausdrill four from four Buys in the FNArena database.

Brokers update their model portfolios with an eye on an improving global economy in the second half of 2011.

The Australian Institute of Management’s National Salary Survey showed a skilled shortage is generating increasing wage pressures, forcing companies to become more flexible.

A recent placement has cut debt and made acquisitions more likely. With earnings growth set to accelerate beyond FY12 Moelis sees value in Bradken.

Iluka has again guided to higher prices for its products and the update has seen brokers lift earnings forecasts and price targets for the stock.

Not only did the RBA not raise today, the language has become less hawkish.

The RBA today decided not to lift its cash rate from 4.75%.