Australian stocks fell for the second session in a row.
- S&P ASX 200: 5,202.90 -29.97 -0.57%
- All Ordinaries: 5,234.60 -32.77 -0.62%
- AUD/USD: 0.7316 -0.0045 -0.62%
Six out of ten sectors were lower, adding to Monday’s 0.89% loss.
The energy sector, down 2.7%, was hit by a 5% fall in oil prices overnight. Woodside Petroleum was down more than 2% to $31.36, LNG almost 10% to $1.65 and Santos more than 6% to $5.56.
BHP dropped more than 2% to $24.81 and Fortescue Metals 8.7% to $2.19.
The major banks were either weaker or flat. The Commonwealth lost 0.56% to $74.23.
The top stories Tuesday:
1. Prepare for takeoff. The Civil Aviation Authority of New Zealand has approved Martin Aircraft’s latest model jetpack, the Prototype 12, for manned flight. At one stage its shares were up more than 20% but closed 5% higher at $0.60.
2. A complete change. A private equity firm has made a bid to buy price comparison website iSelect. And the CEO of 18 months decided to go at the same time. The shares were 8.5% higher at $1.66.
3. Getting paid. Airtasker, the Australia online marketplace, is partnering with fintech startup PromisePay to power the platform’s $25 million in transactions and take the uncertainty out of getting paid for work.
4. Be positive. 5 reasons to be confident about Australia’s economic future and prosperity, according to the RBA.
6. The Australian dollar. The time to sell is nigh. The rally won’t last.
7. Telcos have started storing your metadata. Here’s what that means for you.
Business Insider Emails & Alerts
Site highlights each day to your inbox.