Daily FNArena News - Australia

The November CBA/AiG Performance of Service Index reading showed a consolidation for the month, supporting the view the Australian economy is enjoying a modest recovery.

Metcash’s interim profit result disappointed much of the market and has prompted ratings downgrades from three brokers.

It was a quick message this month, effectively saying “see November”, before the rise to 3.75%.

The odds were close to 50:50 as far as expectations were concerned this morning, but in the end the RBA stuck to its guns with a rise to 3.75%.

While not much has changed post APN News & Media’s two-day investor conference, brokers remain confident about the company’s recovery prospects.

Metcash’s proposal to move into the Australian hardware market via the acquisition of a stake in Mitre 10 appears logical but brokers see some issues for the company.

TD Securities’ monthly gauge indicates November saw a mild pick up in consumer price rises.

Lies, damn lies and statistics. Economists are unconcerned about a weak third quarter capex result.

Celebrated GFC predictor Nouriel Roubini provides ten reasons why the global economy will recover in a ‘U’.

Harvey Norman now expects a 40% rise in first half sales, saying it should be a good Christmas for the whole sector.