Daily FNArena News - Australia

Stockbrokers are taking the view there’s value up for grabs in Macquarie shares as the improving earnings outlook is not fully priced into the stock yet.

The magnitude of Flight Centre’s lift to FY10 earnings guidance has taken the market by surprise.

Consumer confidence in Australia remains “very strong” into the new calendar year, reports Westpac.

Australia’s inofficial inflation gauge from TD securities-MI showed a 0.3% rise in December.

The Australian labour market ended last year on a high note, beating expectations by a mile and making a February rate hike look even more likely.

The Parker Range project of Cazaly Resources appears to offer valuation upside according to DJ Carmichael.

Rio Tinto has delivered a solid production report for the December quarter, with better than expected output in iron ore and copper the highlights.

Stronger than expected Australian labour force data in December is seen as adding to pressure on the Reserve Bank of Australia to lift interest rates next month.

Energy Resources of Australia delivered a mixed December quarter production report with lower grades but higher realised prices and sales.

Education provider Navitas has made its first entry into the US market and while this move has little earnings impact brokers expect further such deals will follow.