Australian stocks closed the session, and the week, lower.
- ASX 200: 5,727.40 -10.91 -0.19%
- All Ordinaries: 5,768.90 -6.64 -0.11%
- AUD/USD: 0.7440 +0.0022 +0.30%
The ASX200 dropped 1.1% over the five days, not recovering from a global rout over political uncertainty in the US.
The major banks went on a slide with Westpac falling 5% over the week.
Today, the ANZ closed at 28.50, down 1.8%, and Westpac at $30.83, down 1%. The NAB dropped 0.6% to $30.36 and the Commonwealth also 0.6% to $80.26.
Origin Energy shed 1.8% to $7.59 after announcing the sale of the Darling Downs LNG pipeline network for $392 million.
Sirtex clawed back some ground today, closing 9.5% higher at $11.83. The shares yesterday fell almost 30% after a study found little no difference between using Sirtex spheres and chemotherapy to treat cancer.
The top stories:
1. The $165 million tax fraud case. Millions of dollars flowing through the alleged Plutus Payroll tax scam came from the federal government. Also read: The founder of Plutus Payroll has been charged.
2. Doing the math on the new bank levy. At least one major bank believes Treasury has miscalculated.
3. A partnership with Uber. A Gold Coast startup has won a major partnership deal with the ridesharing giant.
4. APN Outdoor and oOh!media merger is off. The ACCC (Australian Competition and Consumer Commission) believes such a merger would likely result in a substantial lessening of competition in out-of-home advertising services.
5. This is how much will a Tesla roof cost in Australia. Tesla announced Australian pre-orders for its solar roof, with installations starting in 2018.
6. Telstra just invested millions in the company investigating Russians hacking US politics. The venture capital arm of Australian telecommunications giant Telstra has joined in a $US100 million investment round for CrowdStrike.
7. Where did all the Brazilians come from. The number of Brazilians travelling to Australia is booming.
8. This painting just became the most expensive artwork sold at auction. A large-abstract painting of a skull.
9. A parking space in Sydney’s CBD is for sale for $400,000. The space fits two cars, has 24/7 access and is located in the Mantra serviced apartments building, opposite Australia Square.