Australia stocks closed marginally higher.
Here’s the scoreboard:
- S&P ASX 200: 5,116.70 +7.65 +0.15%
- All Ordinaries: 5,167.70 +9.85 +0.19%
- AUD/USD: 0.7220 +0.0030 +0.41%
It was the fifth straight positive close but the ASX 200 is still down almost 5.9% this calendar year.
Seven out of ten sectors were higher in light trade for just a seven point gain on the ASX 200. A rise on Wall Street, the first in three sessions, where the S&P 500 was up 0.8%, was largely ignored.
The major banks and the big miners were all weaker but energy stocks mostly improved on the back of a rise in oil prices. Santos was up 3% to $3.71.
BHP was down 1.75% to $16.83 and Rio Tinto 1.5% to $42.23. Among the banks, Westpac was down 0.78% to $32.00.
Slater and Gordon, punished for abandoning its profit guidance because of problems with its UK business, reversed direction to rise 9.5% on the day to $0.98. It’s still a long way from the year high of around $8.
The top stories Tuesday:
1. Woolworths to sell in China. eCargo, a China-based e-commerce solution provider for fashion brands, has done a deal with Woolworths to support the supermarket’s operations in China. ECargo shares closed 223.81% higher at $0.34.
2. Resources blues. The mining sector’s pain might be about to get a whole lot worse.
4. Australia’s economy. 2015 as told through charts.
5. Next year? CLSA’s top 15 Australian stock picks for 2016.
6. Good technology. Shares in Australian engineering startup Structural Monitoring Systems went nuts after it announced a deal with Boeing. Its shares were up 14.7% to $1.48 today.
7. Bearish. The Goldman Sachs outlook for the Australian economy in a single slide.
8. Is this really healthy? Cadbury is experimenting with kale and wasabi flavoured chocolate.
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