AUSTRALIAN STOCKS GO NOWHERE: What you need to know

Cameron Valente of the Redbacks loses grip on his bat during the One Day Cup match between Queensland and South Australia at the WACA in Perth. Paul Kane/Getty Images

Australian shares closed marginally higher.

Today’s scoreboard:

  • S&P ASX 200: 5,475.40 +8.01 +0.15%
  • All Ordinaries: 5,555.50 +7.03 +0.13%
  • AUD/USD: 0.7596 +0.0010 +0.13%

The local market kept its nose just above water despite a weaker Wall Street at the end of last week where the S&P 500 closed down 0.3%.

Energy stocks dragged down the rest of the market with Santos shedding 2.5% to $3.80.

The banks were marginally higher with Westpac up 0.65% to $30.77 and the ANZ up 0.07% to $28.28.

The top stories:

1. Hillary Vs Donald. The moment the presidential debate went off the rails.

2. Scott Morrison says RBA rate-cutting has exhausted its effectiveness. The treasurer joined a growing chorus of senior politicians around the world who are openly questioning low rate policies.

3. Cornering the market. Australian Mines Ltd, a very junior gold and base metals explorer, is about to become the largest producer of scandium, a rare metal key to making better alloys for cars and planes. Its shares gained 54% to close at $0.017.

4. Gina Rinehart wants to buy cattle station giant S Kidman & Co. She is is teaming up with a Chinese billionaire in a $365 million deal.

5. Early warning on infectious diseases. Adelaide-based LBT Innovations won approval from the US Food and Drug Administration for the company’s artificial intelligence imaging and software for use as a medical device. LBT shares closed at 37 cents, almost double Friday’s close.

6. Could do better. The social media scorecard on our big bank CEOs.

7. A raider revealed. Construction company CIMIC grabbed a 13.8% on-market stake in engineering group UGL and then launched a full $524 million takeover bid. UGL shares closed 48% higher at $3.18.

8. A social infrastructure play. AMP Capital has bought a prison in Western Australia, public-private partnership with the state government.

9. Creepy Clowns have arrived. The US craze, where people dress up as creepy clowns, has made its way to Australia.

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