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

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Australian stocks closed marginally lower.

Today’s scoreboard:

  • ASX200: 5,985.60 -4.16 -0.07%
  • All Ordinaries: 6,070.60 -4.92 -0.08%
  • AUD/USD: 0.7597 -0.0016 -0.21%

The local market coasted to a flat close with the ASX200 still stuck below the key 6000 point mark.

The big miners kept the market afloat. BHP added 1.5% to close at $28.01 and Rio Tinto 1.2% to $72.05.

But the major banks lost ground with Westpac down 1.2% to $31.17 and the ANZ 1% to $28.33.

Logistics software Getswift Limited was up another 19% to close at $4.30, after announcing on Friday a “global master services agreement” with Amazon.

New Energy Solar debuted on the ASX at $1.562, after the renewable energy investor raised $205 million at $1.50 a share.

Top stories:

1. Amazon Australia has changed its webpage title to say it no longer just sells books. Could be a sign that the launch of the general online store is days away?

2. Metcash’s profit is up despite a fall in supermarket sales. Metcash managed to lift profit 24% to $92.9 million in the first half. Metcash shares jumped 9% to close at $3.00.

3. Simon Thompson is replacing Jan du Plessis at Rio Tinto. He’s a a former investment banker who went into mining.

4. G8 Education released a profit warning. The child care operator is now forecasting underlying earnings of $160 million for 2017, down from previous guidance of mid-$170 million. Its shares dropped 23% to close at $3.40.

5. Crown Resorts is in court facing a class action. It’s all about the share losses when Crown employees were detained in China on suspicion of the illegal marketing of its gambling services. Its shares closed at $12.12, down 1.7%.

6. Google and Facebook’s impact on the media in Australia. The federal government has ordered the competition watchdog to investigate.

7. Property prices. It looks like home auction clearance rates are falling again in Sydney and Melbourne.

8. That’s a Yes. A Liberal MP used his speech on the same-sex marriage debate to propose to his partner.

9. Millennials are about to take charge of the world’s biggest companies. Here’s what to expect.

10. Ask for that rise. The data suggests now’s the right time.

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