Daily FNArena News - Australia

The RBA surprised no one when it kept its cash rate at 4.5% this afternoon.

Investors are currently nervous and FY11 earnings estimates may be too high but Citi still sees value in equities at current levels, while GSJB Were outlines its current preferences.

With net credit demand in Australia beginning to ease, the Big Four banks are jostling for position among the various market segments.

A snapshot of economist responses to today’s wealth of first quarter industry numbers along with April lending data.

Falling demand for leisure travel has hit Virgin Blue very hard in a competitive environment, while Qantas is seeing sufficient offset in premium flyer recovery.

Headline inflation in Australia jumped by 0.5% in May according to TD Securities, but we can blame the tobacco tax.

Brokers update their views on Australian banks while it appears the local housing bubble might be peaking.

Australian GDP for the March quarter is due next week and Westpac is forecasting growth of 0.4%, which compares to 0.9% in the December quarter last year.

As we move into June, it is a time to consider investors will be looking to sell stocks in order to crystallise losses and offset tax burdens.

After a disastrous five-year excursion into wine, Foster’s has shocked no one by finally announcing it intends to demerge its core beer business. Brokers breathe a frothy sigh.