Australian stocks closed higher.
- ASX200: 5,959.90 +28.19 +0.48%
- All Ordinaries: 6,030.30 +28.14 +0.47%
- AUD/USD: 0.7691 -0.0022 -0.29%
The local market surged on the final session of the week pushing the ASX200 index 0.9% higher over the five days.
Today the big miners supported the market, with BHP up 1.2% to $27.69 and Rio Tinto 1% to $73.11.
Among the banks, Westpac was 0.8% higher at $33.27 but the NAB was down 0.5% to $31.78.
Bubs Australia was up 3.7% to $0.82 after announcing plans to become Australia’s only vertically integrated producer of goat infant formula.
Genworth was down 1% to $2.81 after the mortgage insurer posted third quarter results with year to date net profit after tax down 34% to $120.7 million.
1. Retail blues. According to the Australian Bureau of Statistics (ABS), nominal sales growth was flat at 0.0% in seasonally adjusted terms, short of forecasts for a gain of 0.4%.
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4. Australia’s services sector is sliding. The Ai Group’s Performance of Services Index (PSI) fell by 0.7 points to 51.4 in October in seasonally adjusted terms.
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