Australian stocks closed today’s session lower but ended the week ahead.
Here’s the scoreboard:
- S&P ASX 200: 5,329.00 -30.30 -0.57%
- All Ordinaries: 5,396.30 -27.13 -0.50%
- AUD/USD: 0.7289 -0.0036 -0.49%
The ASX 200 index ended the weak 1.4% higher.
But today’s session saw the miners lead a slide, followed by financial stocks.
BHP shed 2.1% to $18.20 and Rio Tinto 2.7% to $44.65.
The banks were all weaker with Westpac sliding under $30 a share to $29.79, down 1.3%, and the Commonwealth lost 1% to close at $77.39.
Aristocrat added 7% to close at $12.41, following a good half year profit result yesterday.
With improved sales, Myer gained another 2.2% to close at $1.225 after its 6.6% jump on Thursday
Shark Mitigation Systems closed at $0.24, up 8% on its debut on Thursday.
The top stories Friday:
1. The fallout from weak inflation. Vimal Gor of BT Financial Management thinks 0% or negative interest rates in Australia are a distinct possibility. Also read: The CBA says the RBA will cut rates to 1.25%.
2. Supermarkets coming good. Perpetual Investments sees troubled supermarket player Woolworths as a buy with turnaround potential under its new management. Woolworths shares lost 2.95% to close at $22.37.
3. The once booming state needs cash. Western Australia plans a $16 billion fire sale of assets to get out of a deepening debt hole. Also read: WA’s iron ore forecasts are way below the federal government’s.
4. Strong demand in the shortfall bookbuild. APN News and Media has a successful $160 million raising in the institutional component of its $180 million rights offer. APN shares closed 11% higher at $0.70.
5. Become a serious landlord. This entire Queensland town is for sale for the price of a Sydney apartment
6. A medicinal cannabis plot in Victoria. Premier Daniel Andrews shows off his staff.
7. Election 2016. Women voters are digging deeper into election issues than men.
8. Big photos. The Antonov 225 Mriya, the world’s biggest plane, prepares for its first trip to Australia.