AUSTRALIAN STOCKS HIGHER AGAIN: What you need to know

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Australian stocks closed higher for the fourth day this week.

Today’s scoreboard:

  • S&P ASX 200: 5,643.90 +30.43 +0.54%
  • All Ordinaries: 5,691.80 +29.76 +0.53%
  • AUD/USD: 0.7235 +0.0002 +0.03%

The local market kept rising on the back of the so-called Santa rally. The ASX200 is up 2% so far this week.

The banks led the market with the ANZ up 1.39% to $30.72, a 16 month high.

Fortescue Metals was up 1.5% to $6.04 and Woodside petroleum 1.1% to $31.40.

Bega Cheese continue its run higher after telling the market its guidance is unchanged despite uncertainty about Bellamy’s, one of the companies it supplies. Bega closed almost 6% higher at $4.27.

Caltex was down 1.1% to $$30.45 after announcing the acquisition of Gull New Zealand and its 77 service stations for $NZ340 million ($A324 millio).

AirXpanders added 13% to $1.275 after getting US Food and Drug Administration approval for its AeroForm Tissue Expander System for breast reconstructions.

The top stories:

1. Christmas shoppers are furious with NAB’s internet banking outage. Reports of both the mobile app and browser banking not working first arose early this morning, with NAB admitting at 8:52am that there was a problem.

2. Seven West Media has launched an inquiry into the handling of its CEO’s affair with a staffer. Seven West Media is hiring an independent expert to investigate allegations surrounding a sexual relationship CEO Tim Worner had with a junior staff member.

3. The organic status of Bellamy’s infant formula could be behind its sales problems. The key feature — its organic status which makes it so attractive but more expensive to infant formula buyers in China — may be behind its current sales problems.

4. Macquarie Bank’s big renewable energy play. The group paid GBP1.6 billion ($A2.7 billion) to Danish group DONG Energy for 50% of a massive offshore wind farm in the UK.

5. Seat Review. Etihad’s first class from Abu Dhabi to Paris.

6. The whole Mac Vs PC thing is so over. The world has moved on and it’s less of a choice than ever before.

7. A Cold War technology designed to make jets fly for days. Engineers are trying to revive the molten-salt reactor created during the Cold War.

8. A time-management expert says giving yourself a performance review today can make 2017 your a productive year. Pretend it’s the end of next year — What three to five things did you do that made it so amazing?

9. Images of 2016. The 30 most stunning photos by Business Insider.

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