Daily FNArena News

The Chinese economy apears to be recovering but while this is a positive for commodity prices Westpac suggests a sustained recovery won’t occue before the rest of the global economy also recovers.

Analysts at Standard Chartered are closely watching further developments as their risk appetite index has retreated into Neutral territory.

Macmahon Holdings has revised down earnings guidance for FY09 and in the view of Citi this suggests increased pressure on earnings for the likes of Leighton and Downer EDI as well.

As Western economies struggle with the GFC, China is emerging to challenge US hegemony faster than even China may have thought possible.

Macquarie Airports is proving to be a relatively defensive play in the economic downturn as its quarterly result showed earnings growth despite weaker passenger numbers.

OZ Minerals has sold its Martabe project and brokers remain positive on the company’s prospects given upside from Prominent Hill and what will be a solid balance sheet post the Minmetals deal.

Spot U3O8 prices rose for the second week in a row.

Signs are emerging the US housing market has bottomed but in the view of TD Bank Financial Group any recovery in prices is likely to take some time.

Some experts believe gold’s outlook has now changed course, but others maintain the bullish trend is still in place.

Britain’s new budget deficit drives home the severity of the recession in the nation of shopkeepers.