Daily FNArena News

Lost supply from Australian producers and scope for a technical bounce from oversold levels suggest some short-term upside for nickel prices.

Ten Network has lowered guidance for its TV division to reflect lower ratings and advertising spending and with forecasts cut accordingly brokers see little reason to be in the stock.

The latest report by BIS Shrapnel suggests limited gains in residential property prices are likely in FY09, though the market should then improve through to FY11.

The weekend has brought about an apparent capitulation on oil production from the Saudis. The US has some more data to mull over this week while it’s pretty quiet in Australia.

RBA governor Glenn Stevens believes the commodity boom could potentially destabilise the Australian economy over the longer term. Higher inrterest rates remain very much on the agenda.

It’s more blood on the floor for Babcock & Brown today as the covenant breach moves the goal posts.

Stronger oil prices should be hurting Asia given its high level of imports but according to DBS it is demand growth through the region that is allowing growth to remain strong.

To hike or not to hike remains the main question for the RBA. Even though economic indicators are increasingly showing weakness is kicking in. Today’s May labour market data were weaker than expected.

AMP’s Dr Shane Oliver expects oil will hit US$200 per barrel in coming years while suggesting stronger oil prices increase the risk of recession both in Australia and globally.

ANZ Bank suggests signs the US dollar is bottoming implies commodity prices may trend lower in the short and medium-term. Any falls are believed unlikely to be significant.