Daily FNArena News - Australia

Clean Seas Tuna has reached a milestone in its world-first program to farm Southern Bluefin tuna.

After a solid FY09 result, Austock wonders why the company would raise capital that will end up costing more than increased capex will return.

There were no real surprises in last night’s budget and no cause for stock market alarm. However specific sectors are winners and losers.

Australian housing finance figures for March rose almost 5% and the move was more broadly based than in previous months.

Incitec Pivot’s headline earnings surprised but operationally, brokers say, the result was weak.

National Australia Bank’s Monthly Business Survey and Economic Outlook showed business conditions improved in April, but not by enough for the bank to adjust its economic growth estimates.

Despite significant cuts in official interest rates, mortgage stress is a reality in Australia.

Australian jobs data for April surprised on the upside and unemployment fell as a result, supporting economist views the RBA will keep rates on hold for a while.

Quarterly fund flows for AMP were subdued at best and with regulatory issues overhanging the company broker opinion remains divided on the stock at present.

Australian retail sales in March were far stronger than the market had forecast, implying fiscal stimulus measures are working.