AUSTRALIAN STOCKS CLOSE THE WEEK 1.5% AHEAD: What you need to know

A kangaroo jumps across the 10th fairway in front of Australia’s Peter Senior during the Perth International at Karrinyup in Perth. Paul Kane/Getty Images

Australian shares closed marginally weaker today but ended the week well in front.

Today’s scoreboard:

  • S&P ASX 200: 5,805.80 -10.51 -0.18%
  • All Ordinaries: 5,851.00 -12.02 -0.21%
  • AUD/USD: 0.7710 +0.0013 +0.17%

The local market held on above the key 5800 mark on the ASX200 index to close the week almost 1.5% ahead.

The banks were mixed, with investors rewarding to ANZ for a good quarterly result but selling down the NAB. The ANZ closed 1.85% higher at $30.77 while the NAB was down 0.38% to $31.71.

The big miners lost ground with Rio Tinto shedding 2.14% to $67.79 and BHP 1.1% to $26.64.

Top stories:

1. The ANZ Bank smashes profit. It posted a 31% increase in first quarter cash profit to $2 billion on 7% growth in revenue.

2. Virgin Australia has slipped back to a loss. The airline posted a $21.5 million loss for the half year to December, as its domestic business continues to be hit by subdued demand and the costs of restructuring. Its shares lost 2.5% to close at $0.19.

3. Theme park woes. Village Roadshow posted a net loss of $6.7 million for the six months to December, partly due to a fatal accident at a competitor’s theme park on the Gold Coast. Its shares closed at $3.56, down 5.5%.

4. Australia’s new $10 note. The design of Australia’s new $10 banknote includes two writers.

5. ASX profits got a boost from the Trump market chaos. The ASX today posted a 3% rise in profit after tax to $219.4 million for the six month to December. Its shares closed at $51.74, down 0.5%.

6. Medibank hit by higher health insurance claims. The claims are growing faster than the premiums gathered. Its shares lost 3.9% to close at $2.70.

7. Samsung boss Lee Jae-Yong has been detained over corruption claims. The scandal that goes all the way up to South Korea’s president Park Geun Hye.

8. Midnight Oil is making a comeback. Peter Garrett is going back to his old job as lead singer of Midnight Oil.

9. A travel jacket to hide 15kgs of luggage. Andrew Benke and Claire Murphy created the Airport Jacket.

10. PODCAST: With JP Morgan’s Kerry Craig on wages, property, and the shifting global economy.

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