The Australian market started the week flat.
- S&P ASX 200: 5,269.70 +1.49 +0.03%
- All Ordinaries: 5,304.50 +0.75 +0.01%
- AUD/USD: 0.7269 +0.0003 +0.04%
The market closed slightly positive, despite only four of the six sectors adding weight.
The banks were either steady or stronger and the miners mostly weaker. The ANZ was up 0.66% to $28.86. BHP lost 1.16% to $24.71 and Santos was down 1.44% to $5.46.
Telstra closed down 2.5% to $5.30, leading the telecommunications sector down more than 2%.
The top stories Monday:
1. Institutional raising. Treasury Wine Estate, whose brands include Penfolds, Rosemount and Wolf Blass, announced it had successfully raised $AU368 million in a rights issue. The company closed more than 12% higher at $7.40.
2. Out of a trading halt. Westpac’s shares soared when Australia’s oldest bank came out of a trading halt today after raising home loan interest rates. The bank closed up almost 3% to $31.34.
3. Closer to control. Shares in infrastructure services company Cardno Limited soared after private equity group Crescent Capital Investments sweetened a takeover offer. Cardno closed 7.8% higher at $3.04.
4. Fintech companies are some of the hottest startups around right now. Why these giant Chinese companies could destroy Australia’s fintech ambitions.
5. The end run? Why the emerging markets rally may be about to end, according to Credit Suisse.
6. The real heart of the stock exchange. Inside the super-secure ASX liquidity centre.