AUSTRALIAN STOCKS CLIMB: Here's what you need to know

Photo: Mike Powell /Allsport.

The ASX200 edged higher for the third straight day as 12 companies reported their full-year earnings.

To the scoreboard:

  • ASX 200 5785.10 , 27.62 , 0.48%
  • All Ordinaries 5830.80 , 26.81 , 0.46%
  • AUD/USD 0.7833 , 0.0015 , 0.19%

Commonwealth Bank was the only major bank to fall, as it traded ex-dividend and dropped by 1.9%.

Blood plasma company CSL and online job ads provider Seek both reported a profit but missed forecasts, falling by 1.5% and 3.2% respectively.

Fairfax Media reported a net profit after heavy losses last year due to the write-down of its print assets. Fairfax shares climbed by 0.5%.

Seven West Media booked heavy impairment losses of its own this year, reporting a net loss of $744 million which saw it shares fall by 2.5%.

The ASX200 energy index rose by 2.7%, let by Origin whose shares climbed by 5.55% after its earnings beat market forecasts.

The big miners finished flat, but the ASX200 resources index climbed by 0.63% for the session.

Here’s today’s top stories:

1. Aussie workers still can’t catch a break: Wage growth in Australia remains anemic, coming in at annual growth of 1.9% for the June quarter.

2. The top 10 fastest growing regions: Before and after shots of Australia’s 10 fastest growing regions show significant development over the last five years.

3. RBA looks too optimistic: The Reserve Bank of Australia is sticking to its forecast for Australia’s economic growth to pick up, but Westpac’s Bill Evans argues the target will be hard to reach.

4. A valuable lesson in customer service: Business Insider’s Sarah Kimmorley is in Las Vegas, and none other than actress (and shoe designer) Sarah Jessica Parker personally sold her a pair of shoes.

5. Worner loses bonus: It was a rough year for Seven West Media, who reported a net loss of $744 million this morning due to some big impairment charges. As a result, CEO Tim Worner had to forego his $500,000 annual cash bonus.

6. Pay rises probably aren’t coming any time soon: While this morning’s data showed the Aussie wage growth remains sluggish, data out of NSW suggests that may be the case for some time.

7. Flu outbreak in Sydney: Australia’s biggest city is in the grip of a flu outbreak, with more than 8,000 cases in the first week of August.

ASX 200 5-Minute Chart

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.