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

Unicycle Duo perform during the Cirque du Soleil KOOZA Sydney Dress Rehearsal. Gaye Gerard/Getty Images

Australian stocks closed where they began the session.

Today’s scoreboard:

  • ASX 200: 5,669.70 +0.69 +0.01%
  • All Ordinaries: 5,733.80 +0.18 0.00%
  • AUD/USD: 0.7975 +0.0023 +0.29%

The local market coasted to a flat close.

The major banks were mixed with Westpac only just above water at $31.16, up 0.06%, and the Commonwealth down 0.4% to $75.37.

Yellow Brick Road was up 7.6% to $0.14 after doubling full year. after tax profit to $1.03 million. Its loan book rose 17% to $44.1 billion.

Vitamin maker Blackmores jumped another 11.7% to $109.50, contining the march higher after announcing its annual results yesterday.

Building products group Boral fell 2.9% to $6.63 after reporting a 16% rise in net profit after tax to $297 million.

Top Stories:

1. Telstra has dropped plans to raise $5.5 billion. Australia’s biggest telco has given up on plans to raise capital from the payment stream it gets from the NBN (National Broadband Network). Its shares fell 6.2% to close at $3.60.

2. More private hospital admissions. Private hospital group Ramsay Health Care lifted full year profit 8.6% to $488.95 million. Its shares fell 5.2% to $68.10.

3. Billabong posts a $77 million loss. A weak Australian retail market. Billabong shares fell but recovered to close at $0.755, up 0.67%.

4. One of Australia’s most important private art collections is about to be auctioned. James Fairfax helped build a great empire through the newspaper business his great-grandfather founded and used that success to indulge in a passion for art.

5. Which direction Sydney property? John McGrath, founder of ASX-listed real estate agents McGrath, says the market is near the top of its cycle but no bubble ahead.

6. AI has learned to write totally believable product reviews. The implications are staggering.

7. Sydney Council has decided to go ahead with the $11 million big tapeworm sculpture. The 58-metre high piece will span George Street near the town hall.

8. Feeling a little bored? 5 amazing jobs in Australia you can apply for right now.

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