AUSTRALIAN STOCKS GO NOWHERE: What you need to know

The Surf Dog Competition at the 8th annual Petco Surf City Surf Dog event in Huntington Beach, California. David McNew/Getty Images

Australian stocks closed flat.

Today’s scoreboard:

  • S&P ASX 200: 5,431.40 +0.10 0.00%
  • All Ordinaries: 5,519.20 +0.55 +0.01%
  • AUD/USD: 0.7621 -0.0001 -0.01%

The local market ended the session where it started, with the ASX 200 still above 5400 points. Four sectors were higher and six lower.

The major banks and the big miners generally kept their noses just above water. The NAB added 0.14% to close at $28.04 and BHP 0.09% to $21.55.

Woolworths lost more than 2% to close at $ 22.85.

Nanosatellite communications player Sky and Space Global shares added 44% to close at $0.03 after a successful rocket launch by Indian Space Research Organisation.

The top stories:

1. SAI Global goes to Baring in a $1 billion deal. Alternative asset management group Baring Private Equity Asia is taking over the ASX-listed SAI Global, a risk management compliance company. SAI shares closed 28% higher at $4.62.

2. The Australian dollar. The Aussie is overvalued and staying that way, says NAB.

3. The housing market. Australia’s auction market remained rock solid last week, recording a national clearance rate of close to 80%.

4. A mobile network failure. Vodafone customers couldn’t make calls or send texts Sunday night and now they want compensation.

5. Where to now China? Debt levels have grown at an enormous pace in the seven years since the global financial crisis, adding to existing concerns over financial stability in China’s financial sector that flared earlier this year.

6. Wi-fi in the sky. Staying connected at 10,668 metres above Australia and travelling at 1174km/h.

7. The census fiasco. The head of the ABS is blaming IBM.

8. The price of oil. All you need to know about OPEC’s big meeting.

9. We really do eat a lot of junk. The eating habits of four out of five Australians are below par, according to the nation’s largest diet survey by the CSIRO.

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