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Australian stocks closed the session lower but ended the week slightly ahead.

Today’s scoreboard:

  • ASX200: 5,982.60 -3.60 -0.06%
  • All Ordinaries: 6,063.10 -4.40 -0.07%
  • AUD/USD: 0.7622 -0.0003 -0.04%

The local market slipped on the final trading day but closed the week with the ASX200 about 0.4% ahead.

Today the big banks lost ground. The ANZ dropped 0.65% to $28.88 and the Commonwealth 0.3% to $80.57.

Virgin Australia was up 5.6% to $0.28. The airline’s shares have been climbing since earlier this month when it said it was looking at the potential to delist from the ASX and go private.

Top stories:

1. High prices, little detail. Deutsche Bank analysts are disappointed by the Amazon Australia soft launch.

2. Household finances are getting squeezed. And Christmas spending doesn’t look so good.

3. Myer says trading is still difficult. The company is awaiting the results of Christmas trading. Myer shares were up 1.4% to $0.72.

4. Bookmaker CrownBet is in play. James Packer’s Crown Resorts is in talks over the future of its 62% holding in the bookmaker.

5. CHART. How expensive it is to buy a home in Sydney compared to Australia’s other capitals.

6. Cannabis stocks are flying. ASX-listed pot stocks have increased in value by an average of 92 per cent over the past month.

7. Infrastructure. The NSW government wants to spend a staggering $2 billion to replace two football stadiums.

8. Retail frenzy. Here’s what Amazon’s arrival could mean for the Australian economy. Also: Amazon’s arrival means slack Australian retailers finally have to treat customers like humans.

9. For the weekend. Everything you need to know about the science of beer.

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