Daily FNArena News - Australia

Weak recent retail sales data and anecdotal evidence belies what Westpac sees as resilient consumer sentiment following its December survey.

Bank analysts had been braced for something a bit scary, bit instead saw the Big Four hit over the head with a wet newspaper. What fifth pillar?

NAB’s Monthly Business Survey for November showed mixed results for Australian business conditions and confidence levels, prompting the bank to trim its growth forecasts.

Lend Lease has launched a UK Infrastructure Fund and brokers see this as good news for the company’s asset recycling operations.

Access Economics has reviewed the Australian retail sector, forecasting a weak Christmas period but some improvement through 2011.

The Reject Shop has shocked the market with its profit warning but optimistic brokers see reason to upgrade ratings.

Three FNArena brokers have downgraded their ratings on Bank of Queensland today in light of worrying commercial property impairments.

Results from a US competitor were much better than expected and the implicit improvement in operating conditions for Boart Longyear have seen upgrades to earnings forecasts.

The RBA yesterday left interest rates unchanged and post the meeting economist opionion remains divided as to how many rates hikes are likely for Australia next year.

The RBA appears happy with its current rate setting not just for now, but for the economic “outlook”.