AUSTRALIAN STOCKS GO NOWHERE: Here's what you need to know

Cameron Shenton kicks the ball from Jimmy Webster during a St Kilda Saints AFL training session. Michael Dodge/Getty Images

Australian stocks closed down.

Here’s the scoreboard:

  • S&P ASX 200: 4,976.20 -4.16 -0.08%
  • All Ordinaries: 5,025.60 -3.66 -0.07%
  • AUD/USD: 0.7186 -0.0014 -0.19%

The Australian market closed the week on a low note, closing the week just 0.5% weaker. The week was punctuated by wild swings, moving more than 2% lower and 2% higher, on the back of movements in the price of commodities.

The ASX 200 is now 6% lower than at the start of 2016.

Today the banks all closed lower with the NAB down 1.5% to $26.46.

The miners, however, did well with BHP up 4.8% to $16.20 and Rio Tinto 3.2% top $41.62.

The top stories for Friday:

1. Still money in Australian coal. Whitehaven Coal is back in profit. But its shares closed 7.8% lower at $0.41.

2. More profits coming. Bellamy’s Australia, the maker of organic infant formula popular in China, is in good with investors again. Its shares closed 14.9% higher at $12.80.

3. Advertising slump. Earnings at Rupert Murdoch’s News Corp have fallen again, this time 20% in the second quarter, as advertising revenue continues to shrink in newspapers.

4. Shopping blues. Australian retail sales fall flat in December.

5. Rate cuts? The RBA does not sound like a bank that thinks it is going to cut.

6. The first quarter. Atlassian, Australia’s largest tech business, has reported a 45% increase in quarterly revenue after a strong sales performance.

7. More falls. Cracks are forming in Australia’s residential construction sector.

8. Office flack. BlueChilli made an awesome Nerf gun turret that can be fired by Slack commands.

9. The full tax deduction. The full story of the IBM worker who tried to claim his 7-year-old son as a tax deduction’.

10. Everything you need to know about celebrating Chinese New Year. Celebrations kick off next Monday, February 8.

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