AUSTRALIAN STOCKS RALLY AGAIN: What you need to know

A mime artist performs in Sydney. Peter Parks/AFP/Getty Images

Australian shares closed higher.

Today’s scoreboard:

  • S&P ASX 200: 5,374.50 +34.94 +0.65%
  • All Ordinaries: 5,466.30 +36.89 +0.68%
  • AUD/USD: 0.7646 +0.0020 +0.26%

The local market hit two week highs after the Fed kept US interest rates on hold.

The big miners led the rally with BHP adding 2.7% to $21.28, Rio Tinto 3.25% to $49.20 and Fortescue Metals 5.5% to $5.16.

Brickworks was up 1.28% to $13.47 after a booming property market helped the company to a 22% rise in full year underlying profit to $147.1 million.

The top stories:

1. Australian inflation. Expectations are falling and the RBA may not be able to do anything about it.

2. The treasurer. Why Scott Morrison thinks fintech disruption will force Australia’s major banks to lift their game.

3. PODCAST: Treasurer Scott Morrison on fintech, central banks, our changing workforce, and footy.

4. The RBA isn’t full of inflation nutters. Governor Philip Lowe in his first major public speech. Also read: The RBA is more comfortable with the housing market than it was a year ago.

5. Oroton’s decision to drop Brooks Brothers is working. The OrotonGroup posted a 31% rise in full year profit to $3.44 million as it concentrates on its own luxury brand and its Gap franchise.

6. The ANZ Bank cuts its losses on the $2.5 billion Oswal case. The bank today reached a commercial settlement with Indian billionaires Pankaj and Radhika Oswal following a dispute about the receivership and sale of Burrup Fertilisers.

7. A $1 billion company for Solomon Lew. The children’s stationery chain Smiggle and sleepwear brand Peter Alexander helped push Premier Investments to a record full year results, including a profit of $103.87 million, a 17.9% rise on the previous year.

8. Another big diamond. The Lucapa Diamond Company, a small miner based in Perth, has found a fifth diamond larger than 100 carats.

9. The one-armed bricklaying robot. Fastbrick Robotics released a new animation video of the Hadrian X, Australia’s next generation robot.

10. It’s harder to get Australians to commit. Netflix revealed that we take longer to get hooked on a series.

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