AUSTRALIAN STOCKS AHEAD FOR THE WEEK : Here's what you need to know

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Australian stocks closed the session in positive territory and ended the week well ahead.

Today’s scoreboard:

  • ASX 200: 5,924.10 +2.62 +0.04%
  • All Ordinaries: 5,947.60 +3.17 +0.05%
  • AUD/USD: 0.7475 +0.0009 +0.12%

The local market cruised to a weak, but slightly higher, close on the final trading day of a short week.

However, the ASX200 ended the week almost 1.2% ahead as the index broke through and kept above the 5900 point mark.

Today, the ASX hardly moved after a quiet session overnight on Wall Street where the S&P500 closed 0.1% higher.

The local market was weighed by BHP, which a down 0.6% to $23.72, and held higher by Rio Tinto, up 1% to $60.44.

The top stories:

1. Telstra’s secrets made public. The case where the telco revealed information it shouldn’t have and then tried to get it back.

2. King Canute stopping the flow of cash to housing. Australia’s banking regulator likened itself to a historical figure in declaring property prices are well beyond its control.

3. Analysts question Ten’s future. The the free-to-air television network is fighting for survival in a “challenging” advertising market. Its shares fell 25% to close at $0.27.

4. Murray Goulburn hit by legal action from the ACCC. The consumer watchdog alleges the cooperative misled farmers over the price of milk.

5. Another sign that Australia’s housing market is cooling. Home loans to landlords rose 0.6% in March from February, the weakest rate since September, according to data from the Reserve Bank of Australia Friday.

6. Tyro co-founder is joining Data Republic. Andrew Rothwell will join Data Republic this month as chief operating officer.

7. A federal minister just called Westpac unAustralian. Queensland LNP senator and resources minister Matt Canavan doesn’t like the bank’s Climate Change Action Plan.

8. Atlassian scrambles to close its second security hole in a week. The bug allows anyone to view what are supposed to be internal company blogs and pages.

9. Martin Aircraft’s commercial jetpack is off to China. The New Zealand company today announced an agreement with Shenzhen KuangChi Dream Technology Company, a subsidiary of Martin Aircraft’s majority shareholder KuangChi Science Limited.

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