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

Australia’s Jason Day during the first round of The Memorial Tournament in Dublin, Ohio. Sam Greenwood/Getty Images

The local market closed the session higher but ended the weak down.

Here’s the scoreboard:

  • S&P ASX 200: 5,318.90 +40.01 +0.76%
  • All Ordinaries: 5,392.50 +38.27 +0.71%
  • AUD/USD: 0.7249 +0.0020 +0.28%

The ASX 200 regained some ground on the final day of trading this week, staying above the key 5300 point mark.

However, the index still fell 1.6% over the five days, its first weekly loss in two months.

The banks and the big miners added some weight today after three days of shedding value.

The ANZ bank closed 1.3% higher at $25.09 while BHP added 1.5% to $18.53 and South32 1.7% to $1.475.

AWE Limited gained 6.4% to $0.905 after upgrading reserves of gas at its fields in Western Australia.

The top stories Friday:

1. The best performers. The 10 most profitable Australian companies all have something in common. Also read: The 11 common features of Australia’s most successful companies.

2. A mini comms network. ASX-listed Sky and Space Global just did a deal to launch nanosatellites into orbit.

3. Changes at Woolworths. Clive Whincup, the chief information officer, is leaving the troubled retailer after two years in the role.

4. The March of the tourist from China. International short-term visitor arrivals to Australia hit the highest level on record in April, according to new figures released by the Australian Bureau of Statistics.

5. Restaurant blues. The staggering numbers that show why no Sydney restaurant is safe. Also read: One of Sydney’s most popular restaurants, Porteño, is moving to the MoVida site.

6. PODCAST: ‘Devils and Details’ with Shane Oliver on GDP, house prices, stocks and more.

7. A survival guide. PIMCO’s 6 rules on market volatility.

8. A messy end. The Organisation for Economic Co-operation and Development (OECD) is warning about the risks housing now poses to Australia.

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