The Australian market closed flat.
Here’s the scoreboard:
- S&P ASX 200: 5,166.60 +0.03 0.00%
- All Ordinaries: 5,230.80 +5.90 +0.11%
- AUD/USD: 0.7608 +0.0029 +0.38%
In a subdued lead into the Easter holiday long weekend, the major banks and BHP dragged the rest of the market down.
The ANZ bank closed down 13.% to $25.53 and the NAB 1.2% to $27.85. Westpac and the Commonwealth were flat.
BHP lost 1.3% to $17.930 but Woodside Petroleum was up 1.2% to $27.49.
The top stories Tuesday:
1. Yet another outage. For the third time in less than two months, Telstra has suffered another outage through its mobile network. This didn’t worry the market. Telstra closed up 1.35% to $5.26.
2. Return to profit. Kathmandu posted a first half profit of $NZ9.41 million, up more than 600%, compared to a loss of $NZ1.8 million for the same period a year ago.
3. A sell down. The family behind furniture retailer Nick Scali, founded 50 years ago, has reduced its interest in the company, netting about $70 million. Its shares dropped 1.7% to $4.03.
4. Fighting back. Cabcharge, under pressure from ride-sharing services such as Uber, has been cleared to launch ihail, a smartphone taxi booking app. Cabcharge closed at $3.38, down 0.3%.
5. A big rise. TPG Telecom, reporting its first half year since the $1.56 billion takeover of iiNet, has increased profit by 90% to $202.5 million. TPG shares closed up 7.4% to $11.09.
6. Green energy. Carnegie Wave Energy has bought 35% of solar and microgrid business Energy Made Clean for $4.5 million. Carnegie shares closed 2.8% higher at $0.036.
7. Better bowling. Ardent Leisure has settled on a strategy to further develop its Dreamworld theme park, turn its AMF brand into family centres and to sell off its marina assets. Its shares closed 11.8% higher at $2.18.
8. Changes in the mineral sands. David Robb is leaving as CEO of Iluka Resources after ten years. Iluka shares lost 1.7% to close at $7.25.
9. Smaller and cheaper. Here are the Australian details on Apple’s new iPhone SE.
10. Startup down south. Corporate accelerator Slingshot is committing $10 million to Victorian startups.
11. Chocolate for Easter. Australia’s favourite chocolate bar is also its oldest: the Cherry Ripe, originally created by the now-defunct Melbourne confectioner MacRobertson’s.