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

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