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

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Australian shares closed marginally higher.

Today’s scoreboard:

  • ASX 200: 5,728.90 +4.46 +0.08%
  • All Ordinaries: 5,768.50 +5.63 +0.10%
  • AUD/USD: 0.7619 +0.0013 +0.17%

The local market kept a nose above water, supported by the big miners.

BHP was 1% higher at $24.78 and Fortescue Metals 3.5% to $5.27.

The major banks were alos in positive territory with Westpac up 0.6% to $31.08.

The a2 Milk Company added 3% to $3.77 on a broker upgrade.

The Hydroponics Company, which announced it had been given a cannabis research licence, was down 9.5% to $0.285.

Top stories:

1. A second bidder for Vocus. Affinity Equity Partners has made a takeover bid for the fourth tier Australian telco. Vocus shares were up 2.6% to $3.54, just above the bid price.

2. The most mortgage stressed suburbs. Half the 20 suburbs with the worst cases of mortgage stress are in Victoria, according to analysis of census data.

3. Bellamy’s shares suspended again. Bellamy’s has extended its trading halt as it digs deeper into the reasons why China suspended accreditation for the company’s newly acquired milk powder plant.

4. Slater and Gordon settle class actions against it. The law firm has reached in principle conditional agreement to settle a series of actions. Its shares closed 9.4% higher at $0.081.

5. Home loans to owner-occupiers surged in May. Data released by the Australian Bureau of Statistics.

6. Sydney fintech HashChing just digitised conveyancing. Online mortgage marketplace HashChing announced a partnership for digital conveyancing.

7. The new CEO of Metcash is a supermarket expert. He will succeed Ian Morrice who notified the board of his intention to retire in 2018 after five years in the role. Metcash shares were up 2.9% to close at $2.47.

8. Melbourne software startup Buzinga just sunk into liquidation. Business Insider has confirmed with liquidator BK Taylor & Co that the company entered liquidation last Tuesday and is no longer operating.

9. Google’s smart home system Nest arrives in Australia. Snoop on your own home for $14 a month.

10. What job candidates ask in interviews. 21 Australian executives reveal the worst.