AUSTRALIAN STOCKS FALL FOR A SECOND WEEK: What you need to know

Miguel Riopa/AFP/Getty Images

Australian shares closed the session, and the week, lower.

Today’s scoreboard:

  • S&P ASX 200: 5,654.80 -37.38 -0.66%
  • All Ordinaries: 5,709.70 -35.70 -0.62%
  • AUD/USD: 0.7571 +0.0010 +0.13%

The ASX200 has dropped two weeks in a row, losing a total of 1.7%. This week the index is down 1.1%.

The local market followed Wall Street where the S&P500 lost 0.4% overnight.

The big four banks weighed heavily on the local market today after a series of analysts questioned future revenue prospects.

The ANZ Bank lost 1.6% to close at $29.40 and Westpac almost 1.5% to $31.85.

The big miners also went on a slide with BHP closing down 1.2% to $26.35 and Rio Tinto 1.8% to $62.33.

Sydney Airport was up 2.5% to $6.05 after reporting 7.2% growth in international passenger numbers for December.

Santos was down 1.2% to $4.06 despite reporting a 27% rise in fourth quarter sales volumes to 21.9 million barrels of oil equivalent (mmboe) compared to the same period last year.

The top stories:

1. An Australian court has ruled your metadata is not personal information. The Australian Privacy Commissioner’s quest to have telecommunications metadata classified as personal has come to an abrupt halt.

2. New home sales surged in November. Sales bounced by 6.1% over the month in seasonally adjusted terms, according to Australia’s Housing Industry Association (HIA).

3. Hunter Hall foreshadows lower dividends. And the departure of ethical investing pioneer Peter Hall will cost the company between $2 million and $2.5 million. Its shares lost 1.6% to close at $2.40.

4. Oroton sales have slumped. Boxing Day and New Year just didn’t work for the luxury retailer. Oroton shares lost 13% to close at $1.82.

5. A new CEO for iSentia’s underperforming content marketing unit. Matthew Stanton, a former CEO of magazine group Bauer Media and a senior executive at Woolworths, is the next head of King Content.

6. We are spending again. The Commonwealth Bank’s Business Sales Indicator increased in December.

7. ANZ is changing its bonus rules. Customer satisfaction is now more important measurement than sales targets.

8. More than half of Atlassian’s graduate intake this year are women. The company is pushing hard to improve the gender balance in the $US6 billion Australian-based workplace solutions business.

9. Xero chairman Chris Liddell has quit to work for Donald Trump. New Zealand-born, US-based businessman and philanthropist Chris Liddell, is stepping down.

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