AUSTRALIAN STOCKS GO NOWHERE: What you need to know

Fawlty Towers creator and co-writer John Cleese introduced the media to Stephen Hall who will play the role of Basil Fawlty in the world premiere tour of Fawlty Towers-Live on stage in Melbourne. James Morgan/Getty Images

Australian stocks closed marginally lower.

Here’s the scoreboard:

  • S&P ASX 200: 5,170.30 -12.82 -0.25%
  • All Ordinaries: 5,224.90 -14.45 -0.28%
  • AUD/USD: 0.7587 -0.0021 -0.28%

The ASX 200 is almost 6% higher so far this month but still 2.3% down on the start of the year.

Today seven out of ten sectors were lower.

The banks were all dragged on the market, with the Commonwealth down 1.3% to $77.14.

The miners were mixed with BHP up 0.39% to $18.17 and Rio Tinto down 0.11% to $44.10. Among energy stocks Santos was down almost 3% to $3.94.

The top stories Monday:

1. The Tabcorp bribery allegations. Elmer Funke Kupper, who used to be chief executive at Tabcorp, resigned from the ASX.

2. An early budget. Here’s what treasurer Scott Morrison has to say about the early budget. The House of Cards response to Malcolm Turnbull’s election threat.

3. Negative returns. The value of superannuation funds are being shrunk by a volatile Australian share market.

4. Fixing the balance sheet. Virgin Australia announced a 12-month $425 million loan from major shareholders Air New Zealand, Etihad Airways, Singapore Airlines and Virgin Group. Virgin’s shares were up 8.5% to $0.38.

5. Air cargo price fixing. Court agrees with ACCC that Garuda and Air New Zealand broke Australian cartel laws.

6. The gummy bear rally. Credit Suisse’s guide.

7. Housing blues? Australia’s auction clearance rate has climbed back above 70%.

8. More for fintech. The Turnbull government today released its statement on Australia’s fintech future, committing new support to the industry that is “transforming our financial systems and our economy”.

9. Easter travel. Get ready for rolling strikes at Australian airports starting this Thursday.

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