Australian stocks rallied.
Here’s the scoreboard:
- S&P ASX 200: 5,071.70 +73.57 +1.47%
- All Ordinaries: 5,102.30 +69.76 +1.39%
- AUD/USD: 0.6999 -0.0003 -0.04%
Local investors shrugged off a weak global market with Wall Street’s S&P500 closing down 0.2%. All ten sectors were in the green, making up some of yesterday’s 2.07% loss.
The major banks were up more than 1% with the ANZ adding 1.34% to $30.20. Most resources stocks were stronger with Woodside up 2.4% to $29.50.
Gold stocks surged with Northern Star up more than 7% to $2.52.
The top stories for Thursday:
1. Woolworths and Aldi are being investigated for the way they are still treating suppliers despite signing the Food and Grocery Code of Conduct which requires them to be fair.
2. Qantas rewards. CEO Alan Joyce, who has seen his company’s shares soar after returning the airline to profit, just had a significant payday after shares he was allocated under short and long term incentives vested. Qantas close up 2.44% to $3.78.
3. Australian health tech startup CliniCloud has just closed a $5 million seed round led by China internet company Tencent, and has secured retail distribution for its first product through US retail giant Best Buy.
4. Sydney jumps six spots in global financial centre rankings. It’s now ranked 15 in a detailed index of Global Financial Sectors.
5. 6 reasons to be upbeat about the Australian economy, according to Deutsche Bank.
6. Talking tax time. Scott Morrison says he won’t jack up taxes but he does want to “unlock the capital” of older Australians.
7. A big ticket item. Cybercrime costs the world $US465 billion a year, according to analysis by Allianz.
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