AUSTRALIAN STOCKS END THE WEEK AHEAD: Here's what you need to know

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Australian stocks closed the session and the week higher.

Today’s scoreboard:

  • ASX 200: 5,774.00 +10.81 +0.19%
  • All Ordinaries: 5,808.20 +11.5 +0.20%
  • AUD/USD: 0.7595 +0.0015 +0.20%

The local market gained ground this week, mainly on the back of improving bank shares, with the ASX200 index adding 1.7% over the five days.

Among the banks, the NAB was up 0.5% today to $29.83 and the ANZ also 0.4% to $28.12.

Vitamin maker Blackmores was up 4.5% to $91.92 after announcing it had been been appointed to an advisory role at the China Association for Quality Inspection.

Top stories:

1. The CPA Australia saga. The head of the ‘independent’ review of the CPA once wrote a glowing endorsement of the CEO he is investigating.

2. iSentia takes media monitoring competitor Meltwater to court. In the Federal court action, iSentia alleges breach of contracts for media intelligence services. Meltwater says it will strenuously defend the action. iSentia shares jumped as high as 6% but closed at $1.91, up 1.6%.

3. Ken MacKenzie is the new chairman of BHP. The former CEO of global packaging company Amcor will replace Jac Nasser from September 1.

4. a2 Milk has upped its profit guidance. The company, which makes a2 Platinum infant formula, says revenue is now forecast to be $NZ545 million ($A518 million) for the 2017 financial year, a rise of $NZ20 million ($A19 million) on the previous update. a2 shares jumped 10.1% to close at $3.69.

5. Melbourne startup Culture Amp just raised a $US20 million. The Australian human resources tech company announced the capital raising round at the HR Tech conference in San Francisco, revealing that Californian firm Sapphire Ventures was the lead investor.

6. The suburbs getting NBN’s faster fibre-to-the-kerb this year. They are select metropolitan areas in all the mainland states.

7. The Principality of Hutt River has to pay tax after all. The Supreme Court in Western Australia has ruled that the principality, Australia’s oldest micronation, must pay tax — about $3 million to start with.

8. PODCAST: With AlphaBeta’s Justin Fabo on Australia’s jobs data, inflation, and the Fed.

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