Australian stocks closed marginally higher.
- S&P ASX 200: 5,540.00 +9.09 +0.16%
- All Ordinaries: 5,633.80 +7.50 +0.13%
- AUD/USD: 0.7660 +0.0014 +0.18%
The local market nudged ahead, ignoring a weaker Wall Street where the S&P 500 closed down 0.1%. The ASX 200 index was above the key level of 5500 with six out of ten sectors in the green.
The major banks added some weight but the big miners lost ground.
The NAB was up 0.9% to $27.20. BHP lost 2.5% to close at $20.160 and Rio Tinto 3.4% to $48.04.
1. Bad loans, increased funding costs. The NAB posted a 3% fall in cash earnings to $1.6 billion in the third quarter, according to unaudited numbers.
2. Revenue down, share prices higher. Ansell is considering a sale of its condom business as it posts a 15% drop in full year profit to $159.1 million on a weak global economy and currency fluctuations. Its shares closed 17.7% higher at $23.16.
3. The Dick Smith effect. JB Hi-Fi posted an 11.48% rise in full year net profit to $152.18 million, helped by better computer sales following the closure of Dick Smith stores. JB Hi-Fi shares closed almost 10% higher at $30.09.
4. Gas price slide. Santos is writing down the value of its GLNG gas project in Queensland by $US1.5 billion ($A1.95 billion) as low prices for energy, including natural gas, squeeze assets. Santos shares closed 1% higher at $4.78.
5. Follow the leader. Millennials are now having a measurable influence on the media consumption of older and younger generations in Australia.
6. Take a break. These are the top 5 emerging holiday destinations for Australians.
7. A bucketing from football fans. The English Premier League kicked off on the weekend, along with the app Optus built to back up its $189 million three-year rights deal.
8. Uber competition. GoCatch is moving into Brisbane as the Queensland government legalises ridesharing.
9. Gold medal knowledge. Swimming legend Shane Gould has a very Australian explanation for how it can go wrong in the Olympic pool.
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