Australian stocks closed higher.
- S&P ASX 200: 5,210.40 +12.53 +0.24%
- All Ordinaries: 5,241.40 +12.97 +0.25%
- AUD/USD: 0.7169 -0.0039 -0.53%
The local market added a little more weight for the fourth session in a row, making it a total of 3.1% for the week so far.
Six sectors closed lower and four higher, adding to Wednesday’s 0.59% rise, Tuesday’s 0.33% gain and Monday’s big 1.95% jump.
Early trade was dominated by the big miners, BHP and Rio Tinto, which were investor favourites in London overnight.
BHP closed up 3.05% to $25.00 and Rio 1.92% to $53.18. The banks were higher with the ANZ up 0.76% to $27.93.
Blackmores, the vitamin company, lost more than 6% to $141.87, but is still way ahead of its $29.80 price of 12 months ago.
Dick Smith shares were up more than 8% to $1.45 after an investor presentation showing the company is the fastest growing consumer electronics retailer, adding 15 to 20 new stores each year.
The top stories for Thursday:
1. Financing that car. Macquarie Bank is launching an equity raising after closing a $8.2 billion deal to buy the ANZ Bank’s Esanda vehicle finance unit.
2. Out of Queensland. The Bank of Queensland posted a 19% rise in full year cash profit to $357 million, a record result which beat expectations by about $4 million. Its shares were up 7.3% to $12.46.
3. Uranium dreaming. Shares in Energy Resources of Australia (ERA), which operates the Ranger uranium mine in Kakadu, went nuts. It closed up 24.2% to $0.41.
4. Training entrepreneurs. iBosses, a startup to help startups, has listed on the ASX.
5. Dark fibre networks. Superloop has bought APEXnetworks, a networking solutions and managed services group, for $5.8 million. Its shares closed up 3.4% to $2.42.
6. The property game. Foreign investors are buying more property outside Sydney and Melbourne. The ANZ-Property Council December quarter survey.
7. A maiden ore shipment. Gina Rinehart’s Roy Hill mine will ship its first iron ore cargo on October 21.
8. A great place to die. Australia is the second best place in the world to die, thanks to high incomes and quality of palliative care, according to The Economist Intelligence Unit.
9. Global drug giant Merck & Co has made a strategic investment in Australia company Bionomics, which works on treatments for cancer and diseases of the central nervous system. Bionomics closed 19.5% higher at $0.55.