Consumer Discretionary

Fully valued with pockets of value. Such is Citi’s view on small miners in Australia. Small industrials have thus become the new focus.

On the back of a better than expected interim result, stockbrokers have upgraded to Buy ratings on Fantastic Holdings, seeing value as the company stands to benefit as conditions improve.

Australian equity indices closed slightly lower in 2010, underperforming many global markets. Analysts debate whether that trend may reverse in 2011.

The outlook for Australian REITs appears solid as market conditions improve and given scope for an increase in capital management, while online is not seen as a major threat to shopping centres.

Weak recent retail sales data and anecdotal evidence belies what Westpac sees as resilient consumer sentiment following its December survey.

Again Wall Street tried to stage a strong rally and again it was thwarted later in the day despite some solid economic data. Dow up 48. (Locked for subscribers until 10:00 AEDST)

Access Economics has reviewed the Australian retail sector, forecasting a weak Christmas period but some improvement through 2011.

The Reject Shop has shocked the market with its profit warning but optimistic brokers see reason to upgrade ratings.

Cool and wet weather are seeing retail sales deferred. The realisation has prompted a downgrade to a Neutral rating at Credit Suisse.

A big jump in US pending home sales and at least some reassurance from the ECB had Wall Street running hard for a second consecutive session. Dow up 106.