Australian stocks closed marginally higher.
Here’s the scoreboard:
- S&P ASX 200: 5,276.40 +20.26 +0.39%
- All Ordinaries: 5,326.50 +21.05 +0.40%
- AUD/USD: 0.7182 -0.0057 -0.79%
The local market closed higher for the fifth session in a row. Eight out ten sectors added weight.
All the banks were firmer but the big miners lost ground amid a general commodities rout in Asian trade. BHP lost more than 2% but, at $20.07, was still above $20 a share.
Woolworths was up 3.8% to $24.63 on unconfirmed reports that private equity firms were taking a hard looking at buying the Big W division.
The top stories Monday:
1. Falling again. Shares in Slater and Gordon were being sold down, closing at $2.15, a loss in value of almost 20% in one day.
2. Angry Birds Vs Yowies. The Yowie Group, the Australian company pushing into the US market with its chocolate covered toys based on a bush legend, has done a deal with the owners of Angry Birds. Its shares were up almost 6% to $1.165.
3. Dollar blues. One reason why the Australian dollar is strong again.
4. Getting an idea to market. IP Australia, the federal government division that administers intellectual property and copyright, has released a tool to bring the public and private sectors together.
5. A mining expert needed. Bitcoin Group has reissued its prospectus for the second time in the year-long bid to become the world’s first listed cryptocurrency miner.
6. Normal isn’t normal anymore. A Morgan Stanley equity managing director explains what’s troubling investors.
7. Hyper-luxury SUV. Bentley’s Bentayga SUV is finally here.
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