Daily FNArena News - Australia

Recent reports by industry consultant BIS Shrapnel and a survey by National Australia Bank both point to improving conditions in Australian commercial property markets.

Morgan Stanley has identified some more small cap companies where it sees value, while Macquarie has Boart Longyear on its Marquee Ideas list.

Fortescue has been a bit left behind in the recent iron ore share price rush but its quarterly production report suggests progress is pretty reasonable.

The next RBA rate hike could come as early as next month, if today’s leading index update is anything to go by.

Merrills includes Tabcorp as a “best idea” while Weres notes little interest in REITs. Citi sees strong leading indicators and likes the ad market.

The RBA is returning interest rates to normal and this month’s minutes suggest the process will no longer be gradual.

JP Morgan sees risks across the market to current profit forecasts, UBS sees value in utilities and Weres adds two copper stocks to its Conviction List.

Many in the market are expecting CSL to deliver solid earnings growth in coming years but Morgan Stanley suggests earnings risk is actually to the downside.

Oz Minerals beat market expectations for production and costs in the March quarter and forecasts have increased.

Bank of Queensland’s result was sufficiently in line with expectations but analysts suggest management’s return on equity guidance is a bit of a stretch.