AUSTRALIAN STOCKS CLOSE THE WEEK DOWN: Here's what you need to know

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Australian stocks ended the session and the week in negative territory.

Today’s scoreboard:

  • ASX 200: 5,672.60 -17.28 -0.30%
  • All Ordinaries: 5,739.40 -14.41 -0.25%
  • AUD/USD: 0.8111 +0.0063 +0.78%

The local market lost further ground as the week came to a close. The ASX200 slipped by about 1% over the five days.

Today’s slide was lead by the big banks and by a string of companies going ex-dividend.

The ANZ Bank fell 0.9% to close at $28.85 and the Commonwealth 1% to $73.24.

Top stories:

1. First home buyers are making a comeback. As property investor activity continues to cool, there’s renewed evidence that first home buyers are starting to take their place.

2. “Sign a prenup first.” Parents telling their millennial children the condition of getting help to buy property.

3. A fall in household spending could be the next big development in the economy. Capital Economics chief economist Paul Dales is worried about the outlook for consumption growth.

4. The high-powered panel to investigate CBA. APRA has appointed Dr John Laker, a former chair of APRA, Graeme Samuel, a former chairman of the Australian Competition and Consumer Commission (ACCC), and company director Jillian Broadbent.

5. They really are watching. Here’s how much access Australian police already have to your data.

6. Here’s how supermarkets are preparing for the arrival of AmazonFresh. Intense competition has altered the state of play for food retailing in Australia.

7. Amazon could launch in Australia as soon as October. Citi analysts say Amazon has already placed its first orders with suppliers, suggesting a pre-Christmas launch is likely.

8. A lifestyle change? Australia’s Big Lobster is up for sale.

9. PODCAST: Rates, risks, and Australia’s wage growth problem.

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