Daily FNArena News

Improving conditions in global steel markets are proving supportive for iron ore prices.

China’s sudden surge in economic growth has been welcomed as a path out of the GFC woods. But could it prove an overstimulated bubble?

Rio Tinto’s June quarter production report largely matched market expectations so brokers continue to see value in the stock.

The global downturn has seen US consumers switch from consumption to thrift and Morgan Stanley suggests the trend has further to run.

Yesterday’s move by Bank of America Merrill Lynch to upgrade Foster’s to a Buy has been met by a downgrade from Citi.

As is always the case, a strong production result from the uranium miner threw up just as many questions as answers.

While still negative the Westpac-Melbourne Institute Leading Index continues to improve modestly.

Steel industry consultant MEPS expects global steel output will be down around 12% this year, an outcome that would have earnings implications for the Australian companies in the sector.

National Australia Bank’s monthly survey of business conditions and confidence levels showed gains over the May results, but not enough for the bank to lift its economic growth forecasts.

Bank of America Merrill Lynch sees scope for earnings improvement in Foster’s and so upgrades to a Buy rating.