Daily FNArena News

Chinese economic data for May beat market expectations.

The World Bank has lowered its growth forecast for this year and maintains prospects for 2010 remain “uncertain”.

Spot U3O8 prices settled at US$50/lb on both TradeTech’s and UxC’s assessment.

Having gained around 50% in the past two months, nickel prices are likely to see some sort of correction in coming months.

One Aussie oil junior is set to exploit the fact, but the market is yet to jump on board.

April housing finance figures for Australia show investors have now joined first home buyers back into the market.

Potential for BHP/Rio Tinto to move to an owner-operator system implies additional downside risk for contractors like Leighton Holdings.

Positive news begets more positive news and this feeds into increased confidence. It worked for Australian consumers in June.

Brokers have found little not to like about the new BHP-Rio deal, despite Rio’s rather large and heavily discounted rights issue.

ANZ’s latest survey into job ads in newspapers and on the internet in Australia suggests unemployment figures will continue rising.