Daily FNArena News - Australia

Leighton Holdings delivered a solid full year profit result and is expected to continue growing work-in-hand but brokers have different views on the earnings growth outlook for the company.

There were no surprises in the RBA minutes, with healthy domestic growth offset by low inflation and ongoing global uncertainty.

Expert commentary on the Australian corporate results season can be conflicting and confusing. So here’s our impartial assessment.

Less than one fifth of Australian companies have reported to date but the early signs are relatively disappointing, brokers have decided.

Myer recorded a mixed 4Q sales result but lifted earnings guidance for the full year, the result being brokers remain generally positive on the outlook for the stock.

This week’s banks results have convinced brokers the earnings bounce once expected in FY11 will now be an FY12 story – hopefully.

A snapshot of economist responses to today’s Australian employment data for July, where jobs again increased but the unemployment rate also rose thanks to a higher participation rate.

Phosphagenics is trying to develop an anti-fat drug delivered via the skin, which if successful would offer significant upside according to Southern Cross Equities.

National Australia Bank’s Australian Commerical Property Survey for the June quarter showed a weakening in conditions and a pushing out of expectations for a turnaround.

Commonwealth Bank economists believe the global economy is recovering as it should from such a significant financial crisis and there is no need to fear a return to recession.