AUSTRALIAN STOCKS GO NOWHERE: What you need to know

Taronga Zoo is celebratingit’s 100th birthday. William West/AFP/Getty Images

Australian shares closed the session lower but ended the week marginally higher.

Today’s scoreboard:

  • S&P ASX 200: 5,467.40 -15.63 -0.29%
  • All Ordinaries: 5,548.50 -16.28 -0.29%
  • AUD/USD: 0.7574 -0.0011 -0.15%

The ASX 200 was just 31 points higher for the week.

Today the local market drifted lower without a strong lead from Wall Street.

Energy stocks were higher with Woodside Petroleum up 1.4% to $29.85.

But gold miners fell with Oceanagold down 2.4% to $3.63 and Northern Star 1.2% to $3.86.

The top stories:

1. Anything to get that loan. More than a quarter of home owners since 2014 lied on their mortgage application.

2. A third month of improvement. Australia’s construction sector is growing again thanks to a surge in engineering work.

3. Masters is struggling with its wind down. Masters Home Improvement has tried to cancel supplier orders in recent weeks amid criticism Woolworths’ failed hardware chain has not cut prices fast enough or deep enough to move stock.

4. The parliamentary hearings. Here’s what we found out from politicians interrogating the CEOs of the big four banks.

5. And now there’s going to be a better way to complain. A banking tribunal will be set up to deal with consumer complaints against banks.

6. The budgies win. The swimwear company at the centre of Malaysia’s ‘budgie 9’ case says orders have gone through the roof.

7. Westpac plans to keep giving money to political parties. It won’t follow the NAB in cutting all donations to parties.

8. Goodbye Ford. A look at the last ever Fords made in Australia. Also read: Ford is doing something really cool with Australia’s last locally-made Falcon and ute.

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