Australian stocks closed the session higher but lost the week.
Here’s today’s scoreboard:
- S&P ASX 200: 5,162.70 +16.71 +0.32%
- All Ordinaries: 5,248.30 +16.56 +0.32%
- AUD/USD: 0.7375 +0.0012 +0.16%
The local market shrugged off global fears over the possibility of the UK leaving the European Union but the rise was not enough to make up for the falls this week.
The ASX 200 stayed below 5200 points and closed the week down 2.8%.
The banks and the big miners led the charge today. The NAB gained 1% to close at $25.04. BHP also added 1% and ended the day at $18.08.
Gold miners, which rose on the Brexit contagion, today lost some of their gains. Northern Star was down 5% to $4.83 and Evolution 2.8% to $2.36.
The top stories Friday:
1. The ASX calls a halt to the Guvera float. The Queensland-based music streaming company might need to find a new source of equity funding.
2. Interest rates. Only 1 of 23 economists think the RBA won’t cut rates by August.
3. The irony of a share price rise. Profits at Australian Ethical look weaker because employees are about to make a killing on share rights.
5. MAP: This is where investors have been buying stocks, and where they’ve been selling.
6. PODCAST: Brexit, the Fed, lithium and beer – it’s all in Devils & Details.
7. Between the lines. Goldman Sachs figured out how to learn what Wall Street stock analysts really mean.
8. An investigation. There really was a creepy fifth housemate lurking in cult British TV show The Young Ones
9. Shopping. The Iconic is making a comeback.