AUSTRALIAN STOCKS CLOSE THE WEEK AHEAD: Here’s what you need to know

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Australian shares closed the session, and the week, higher.

Today’s scoreboard:

  • ASX 200: 5,765.10 +28.33 +0.49%
  • All Ordinaries: 5,808.70 +29.57 +0.51%
  • AUD/USD: 0.7757 +0.0026 +0.34%

The local market ended the week with the ASX200 ahead by 1%.

Today, the banks were either flat or ahead with the ANZ almost 1% higher at $28.86.

Among the miners, BHP was 0.5% higher at $25.13 and Woodside Petroleum was up 1.8% to $30.04.

National Veterinary added 4.6% to $2.48 after announcing the purchase of a seven clinics.

Recruiter Programmed Maintenance Services soared 65% to $2.97 after a takeover by Japan’s Persol Holdings at $3.02 a share.

1. A key Greens senator has gone. Scott Ludlam has resigned from the Senate after discovering he still had New Zealand citizenship, in breach of the Australian Constitution.

2. David Jones store sales have fallen for the first time in 3 years. Falling consumer confidence, blamed on weak growth across Australian retailing, has finally hit David Jones.

3. Something strange is going on with wage growth in Australia. One of the biggest talking points in business circles right now is the disconnect between business confidence and consumer sentiment.

4. Why Australia needs to start talking about its population growth. Australia has had the longest stretch of uninterrupted growth for a developed nation ever seen.

5. Australia’s overseas student boom. The number of short-term arrivals to Australia citing education as the reason for their visit surged to 566,100 in the 12 months to May.

6. Providing blockchain for banking. The successful use of blockchain in Australia to digitise bank guarantees for commercial property leasing is a rare use of technology which has been in place since 2009.

7. SNEAK PEEK: A first look at Star Wars Land, Disney’s largest ever theme park attraction.

8. PODCAST: Hawkish central banks, the global recovery, and crazy cryptocurrencies.