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

Daniel Maurer/AFP/Getty Images

Australian stocks closed near where they started.

Today’s scoreboard:

  • ASX 200: 5,706.20 +4.20 +0.07%
  • All Ordinaries: 5,767.80 +4.03 +0.07%
  • AUD/USD: 0.7958 +0.0013 +0.16%

The local market first dropped, then recovered only to close flat.

Among those companies going ex-dividend today: Bendigo Bank, down 3.2% to $11.60 and Boral, down 1.5% to $6.49.

The NAB was up 0.3% to $30.35 but the ANZ was down 0.1% to $29.35.

Among the miners, Rio Tinto was 0.6% higher at $68.12 and BHP 0.5% to $27.62.

Top stories:

1. Sydney’s housing market slows. Reserve Bank of Australia: “Housing prices have been rising briskly in some markets, although there are signs that conditions are easing, especially in Sydney.”

2. GDP forecasts. Economists are revising up, expecting a decent set of numbers.

3. Services. Activity levels across Australia’s services sector improved for a fourth consecutive month in August, adding to evidence that Australia’s non-mining sectors are continuing to strengthen.

4. A shareholder class action against the CBA over the money laundering scandal is going ahead. Litigation funder IMF Bentham Limited says the action will consist of shareholders who bought shares between August 17, 2015, and August 3, 2017.

5. Fox could lose up to $190 million if it can’t strike a new deal with Ten. Most creditors of the Ten Network, which went into administration in June, will get 100 cents in the dollar back when the free-to-air network is sold to the American broadcasting giant CBS.

6. Twiggy Forrest is going to launch a Super Rugby rival competition. Today the NSW Supreme Court dismissed an appeal by RugbyWA against the ARU’s decision to discontinue the Western Force Super Rugby licence, cutting the competition to 15 teams from next season.

7. Matt Moran has nabbed one of Australia’s best chefs for his mega-restaurant and bar at Barangaroo. Former Vue de monde head chef Cory Campbell, who also worked alongside Rene Redzepi at Noma in Copenhagen, will run the three kitchens at Barangaroo House.

8. The most in demand consultant skills in Australia. Project management, process improvement, data science and analysis, financial modelling and business transformation are the most commonly requested consultancy services.

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