Daily FNArena News - Australia

BHP Billiton exceeded market expectations with its profit result, but brokers maintain the shares are fairly valued.

The Westpac-Melbourne Institute Index of Consumer Sentiment rose again in August, suggesting consumers are increasingly of the view the worst of the downturn has now passed.

Primary Health Care posted a profit result brokers viewed as solid.

Fortescue Metals posted a headline profit but brokers were disappointed in the messy nature of the result.

Premier Investments has lifted earnings guidance for FY09 and brokers have responded by lifting forecasts through to FY11.

The NAB business confidence measure edged up this month to consolidate last month’s gains and to approach historical norms.

June housing finance commitments rose by 1.1% in June, but that was less than expected. The RBA should be pleased.

Suncorp-Metway pre-released full year earnings last Friday and the announcement received mixed reviews from brokers.

Tabcorp’s profit result largely matched expectations but the group’s outlook remains clouded by increasing competition in the gaming and wagering industries.

Bradken posted a solid full year profit result despite tough conditions, leading to a big jump in average target.