AUSTRALIAN STOCKS FALL: Here's what you need to know

Stuart Broad of England looks on after falling over while bowling as Australia’s David Warner runs back to his crease during the 2015 ICC Cricket World Cup match. Photo: Ryan Pierse/Getty Images

The Australian market closed down on the last session of the week, with weaker energy stocks, a flat Wall Street and a flood of profit results.

Here’s the scoreboard:

  • S&P ASX 200: 5,881.50 -22.73 (-0.38%)
  • All Ordinaries: 5,845.60 -24.23 (-0.41%)
  • AUD/USD: 0.7806 +0.0013 (+0.17%)

Wall St was flat again overnight with the S&P 500 closing down just 0.1%.

Locally, most sectors were lower, led by energy, which was down 1.59%. Woodside Petroleum was down 1.13% to $35.72.

The major banks were all weaker, led by the Commonwealth down 1% to 90.21.

The top stories on Friday:

1. Telstra moves. David Thodey is leaving as CEO, having doubled the value of the company in six years. His replacement, Andrew Penn, left school at age 15. Telstra shares closed flat at $6.61.

2. On track for first dividend. Medibank Private, Australia’s newest major listed company, posted a 10.8% rise in profit to $151.2 million for the half year. Its shares closed down 3.5% to $2.47.

3. Oil price fallout. Energy producer Santos is cutting capital spending and slashing costs after posting a loss of $935 million for the full year as falling oil prices bite into the business. Its shares closed down 2.5% to $8.03 in an already weaker energy sector.

4. Aged care. Regis Healthcare went a tear after it upped its forecast for full year profits by between 5% and 10%. Its shares closed up 12.7% to $5.13.

5. Cyclone fallout. Suncorp has a $200 million maximum exposure to payouts from any damage caused by the giant storm. Its shares closed down 1.15% to $13.77.

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