Australian stocks closed marginally weaker.
- S&P ASX 200: 5,543.70 -8.85 -0.16%
- All Ordinaries: 5,628.20 -8.49 -0.15%
- AUD/USD: 5,628.20 -8.49 -0.15%
The local market eased to a weak close as the big miners and energy stocks fell.
BHP was down 0.7% to $20.44, Fortescue 2.1% to $4.58 and Santos 1.68% to $4.68.
The banks were mixed with the Commonwealth, which released its annual results today, down 1.29% to $77.40. The ANZ, which posted a quarterly report Tuesday, was 1.17% higher today at $26.75.
AGL Energy shed 3.8% to $19.58 after posting a statutory loss of $408 million.
Fairfax Media closed at $0.95, down 4.5%, after posting a $894 million full year loss, due to writedowns in the value of its newspapers.
Computershare surged 8.8% to $9.74 after the registry posted a 2.4% rise full year profit to $157.33 million.
The top stories:
1. More bad debts and questions on interest rates. The Commonwealth Bank posted a 3% rise in full year cash profit to $9.45 billion, in line with most forecasts. Also read: Ian Narev explains why the bank didn’t pass on the full rate cut.
2. Where to next for rates? RBA governor Glenn Stevens explains how rate cuts in Australia are losing their impact.
3. Glenn Stevens delivered a brutal assessment of how politicians are handling economic reform. His last public speech as governor of the Reserve Bank of Australia before stepping down next month after 10 years in the job.
4. And more on interest rates. Why the Big Four might struggle to explain holding back the rate cut.
6. Gender equality. Women will represent half the Commonwealth Bank’s group executive by the end of the year.
7. CONSUMER CONFIDENCE. There are now more optimists than pessimists in Australia.
8. Want to get your own startup? A founder shares these words of advice for anyone who’s scared to fail.