AUSTRALIAN STOCKS EDGE HIGHER: Here's what you need to know

Darcy Lussick at a Parramatta Eels NRL training session. Renee McKay/Getty Images

The Australian market edged slightly higher, defying Wall Street, but didn’t quite reach the 6000 point level on the ASX 200 index.

Here’s the scoreboard:

  • S&P ASX 200: 5,969.10 +12.96 (+0.22%)
  • All Ordinaries: 5,934.50 +13.47 (+0.23%)
  • AUD/USD: 0.7859 -0.0021 (-0.27%)

Wall Street closed weaker overnight with the S&P 500 losing 0.2%.

On the local market, nine out of ten sectors were higher but the ASX index was still 30.9 points below the 6000 level, a high not seen since 2008.

Flat or weaker financial stocks were offset by stronger resources companies. BHP closed up 0.71%, but Rio Tinto lost 1.44% to $57.37. The NAB closed down 0.59% to $38.95 and the ANZ was up 0.25% to $36.89.

The top stories on Tuesday:

1. Adventure clothing retailer Kathmandu posted a half year loss of $NZ1.8 million after a promotional campaign failed to produce sales over Christmas and January. Its shares closed down more than 12% to $1.37.

2. Profit expectations upgraded. TPG Telecom, the group with a $1.4 billion takeover bid for iiNet, posted an 18% rise in first half net profit to $106.7 million. Its shares closed up 3.5% to $9.14.

3. Up again but a long way to go. Australian consumer confidence is stuck in the doldrums.

4. Falling oil prices. Woodside Petroleum is cutting another 300 jobs. Its shares closed down marginally weaker at $35.41.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.