Australian stocks closed flat.
- ASX200: 5,986.20 -0.21 0.00%
- All Ordinaries: 6,067.50 -0.11 0.00%
- AUD/USD: 0.7621 0.0000 0.00%
The local market coasted to a weak close.
The miners went higher but the big banks dragged. The NAB was down 0.7% to $29.74 but BHP was 1.3% higher at $27.96.
Automotive Holdings was 6.9% higher at $3.70 after announcing the sale of its refrigerated logistics business to China’s HNA International for $400 million.
Coca-Cola was down 4.9% to $7.59 after warning that results will be affected $40 million of investments.
Webjet lost another 6.6% to $9.79, adding to the 11.5% drop yesterday after its 2018 earnings guidance came in below expectations.
1. Amazon Australia soft-launches. But only to a handful of customers. The full launch comes later.
2. What Australian shoppers want to buy from Amazon. Observations by UBS as part of the bank’s research into the impact of Amazon’s arrival. Also read: Online shopping in Australia will double after Amazon launches. AND: Amazon is targeting the 88% of Australians who hate local retailers.
3. The retail crunch has hit Radio Rentals. The Thorn Group posted a loss of $9.67 million for the half year to September. Its shares fell 9.7% to close at $0.60.
4. Not just dumb luck. AMP says Australia’s economy is more resilient than many believe.
5. Australian government bonds are rallying again. Yields on Australian 10-year bonds were close to falling below 2.5% for the first time since late June.
6. Sydney property. Only half of those put up for auction are now selling on the day.
7. PNG authorities moved on the former Manus Island detention centre. About 400 men have refused to move despite the power and water being cut off.
8. A no commission share-trading app. The Melbourne-based company just raised $7.3 million and listed on the ASX. The 21 cent shares closed at 15.5 cents.
9. China online shopping giant opens a massive warehouse in Australia. VIP.com is China’s third largest online shopping site behind TMall and JD.
10. Black Friday deals have already started. Here are some of the best we’ve found.
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