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AUSTRALIAN STOCKS FLATLINE: What you need to know

James Faulkner of Australia takes a catch to dismiss Sabbir Rahman of Bangladesh off the bowling of Shane Watson during the ICC World Twenty20 India 2016 Super 10s in Bangalore. Ryan Pierse/Getty Images

The Australian market closed flat.

Here’s the scoreboard:

  • S&P ASX 200: 5,166.60 +0.03 0.00%
  • All Ordinaries: 5,230.80 +5.90 +0.11%
  • AUD/USD: 0.7608 +0.0029 +0.38%

In a subdued lead into the Easter holiday long weekend, the major banks and BHP dragged the rest of the market down.

The ANZ bank closed down 13.% to $25.53 and the NAB 1.2% to $27.85. Westpac and the Commonwealth were flat.

BHP lost 1.3% to $17.930 but Woodside Petroleum was up 1.2% to $27.49.

The top stories Tuesday:

1. Yet another outage. For the third time in less than two months, Telstra has suffered another outage through its mobile network. This didn’t worry the market. Telstra closed up 1.35% to $5.26.

2. Return to profit. Kathmandu posted a first half profit of $NZ9.41 million, up more than 600%, compared to a loss of $NZ1.8 million for the same period a year ago.

3. A sell down. The family behind furniture retailer Nick Scali, founded 50 years ago, has reduced its interest in the company, netting about $70 million. Its shares dropped 1.7% to $4.03.

4. Fighting back. Cabcharge, under pressure from ride-sharing services such as Uber, has been cleared to launch ihail, a smartphone taxi booking app. Cabcharge closed at $3.38, down 0.3%.

5. A big rise. TPG Telecom, reporting its first half year since the $1.56 billion takeover of iiNet, has increased profit by 90% to $202.5 million. TPG shares closed up 7.4% to $11.09.

6. Green energy. Carnegie Wave Energy has bought 35% of solar and microgrid business Energy Made Clean for $4.5 million. Carnegie shares closed 2.8% higher at $0.036.

7. Better bowling. Ardent Leisure has settled on a strategy to further develop its Dreamworld theme park, turn its AMF brand into family centres and to sell off its marina assets. Its shares closed 11.8% higher at $2.18.

8. Changes in the mineral sands. David Robb is leaving as CEO of Iluka Resources after ten years. Iluka shares lost 1.7% to close at $7.25.

9. Smaller and cheaper. Here are the Australian details on Apple’s new iPhone SE.

10. Startup down south. Corporate accelerator Slingshot is committing $10 million to Victorian startups.

11. Chocolate for Easter. Australia’s favourite chocolate bar is also its oldest: the Cherry Ripe, originally created by the now-defunct Melbourne confectioner MacRobertson’s.

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