Australian stocks closed marginally weaker.
Here’s today’s scoreboard:
- S&P ASX 200: 5,150.10 -7.09 -0.14%
- All Ordinaries: 5,210.90 -4.81 -0.09%
- AUD/USD: 0.7477 -0.0008 -0.11%
The local market closed flat with six sectors lower and four higher. The major banks were mixed with the Commonwealth down 0.22% to $76.14 and the NAB up 0.44% to $27.67.
BHP lost 0.9% to $17.70 but Rio Tinto gained 0.97% to $44.73. Some of the iron ore stocks dropped after the commodity fell in price overnight. Atlas Iron was down 7.6% to $0.024.
Global markets were quiet, waiting for the European Central Bank’s meeting on monetary policy tonight and the possibility of further stimulus.
The top stories Thursday:
1. SurfStitch in play. CEO Justin Cameron has resigned in an apparent move to take the online retailer he co-founded private. Its shares closed almost 11% higher at $1.315.
2. Robot financial advice. Decimal Software’s white label robot financial adviser platform now has more than $3 billion in funds under advice. Its shares jumped 12.7% to close at $0.053.
3. Heavenly business. Micro-donations platform Activistic has signed Church Army UK to its soon-to-launch Ralli app, providing an entry into the significant church giving market. Its shares were down 1.3% to $0.072.
4. The ACCC gives the nod. Coles, which initially wanted to buy nine supermarkets from family-owned Supabarn, is going ahead with the acquisition of five stores in New South Wales.
5. The big game in town. China is becoming a nation of iron ore traders.
6. Forget unicorns. Dragons are the Australian startup problem no one’s talking about.
7. One way to get a box office hit. There’s something fishy about the box office sales in China everyone is so excited about.
8. Watch out. Thieves have made a huge malware play to steal Australian bank login details on Android phones.