Daily FNArena News

The March quarter business survey by National Australia Bank showed further weakness in the Australian economy is likely.

DBS Group has developed a new Dashboard measure for assessing the state of the Asian economy, the latest numbers indicating the recovery is real and sustainable.

Brokers agree Viterra’s bid for ABB Grain faces many hurdles, and not just in price.

The market has run sharply since early March but according to Russell Investments Australian equities remain undervalued by as much as 40%.

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.