Consumer Discretionary

While Australian wine consumption has grown strongly in recent years so too has production both domestically and overseas, leading CBA to suggest the industry will face increased competition.

Qantas delivered improved traffic statistics for April and brokers expect the trend to continue.

Daily update on share prices and consensus price targets.

Thorn Group posted a full year profit at the top end of guidance and with further growth from a broader base expected in coming years brokers continue to see value.

There were no measures to either positively or negatively shock any particular stock market sector, but nor was there much burden removed from RBA monetary policy in last night’s Budget.

Following the de-merger of Foster’s, shares in Treasury Wine Estates have commenced trading, prompting brokers to commence coverage on the stock.

A snapshot of economist responses to today’s 0.5% fall in March retail sales when 0.5% growth was expected.

Tough conditions and rising costs have led to slightly disappointing interim earnings guidance from Coca-Cola Amatil but brokers remain broadly positive.

The AIG-CBA Performance of Services Index declined again in March, highlighting ongoing caution among Australian consumers with respect to the economic outlook.

Consumer Metrics Institute notes US consumer demand for discretionary durable goods has fallen following the Japanese earthquake.