Daily FNArena News - Australia

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

The market had expected the Australian labour market would weaken in July but it proved its resilience with unemployment coming in unchanged at 5.8%.

If NAB’s June SME survey is anything to go by, the economic recovery in Australia is genuinely taking shape.

Arrow Energy is receiving more attention in the market with Deutsche Bank today initiating coverage with a Hold rating.

Against market estimates calling for a widening, Australia’s trade deficit narrowed in June by around 40% compared to May.

For the second time since its interim result Bendigo And Adelaide Bank has lowered earnings guidance, splitting views on the stock between the value on offer and the risks to ongoing earnings.

Navitas has defied the global economic downturn to deliver a better than expected full year result and with further strong growth likely in FY10 and beyond brokers have lifted earnings forecasts.

Australian retail sales for June were weaker than economists had predicted.

The RBA has left its cash rate at 3% again and no longer sees “scope for further easing”.

RBS Australia has joined the chorus of brokers turning more positive on the banking sector, lifting its forecasts, targets and in some cases ratings primarily to reflect lower bad debt expectations.