AUSTRALIAN STOCKS HIGHER: What you need to know

Matt Giteau of Australia (L) warms up with Bernard Foley during a training session in London. Dan Mullan/Getty Images

Australian stocks closed higher on Thursday.

Today’s scoreboard:

  • S&P ASX 200: 5,230.00 +32.75 +0.63%
  • All Ordinaries: 5,265.60 +35.22 +0.67%
  • AUD/USD: 0.7319 +0.0019 +0.26%

The market broke a three-session losing streak. Six out of 10 sectors were higher, with materials and energy stocks leading the market.

Rio Tinto closed 2.3% higher at $54.25, BHP was up 1.78% to $25.12 and Fortescue more than 6% to $2.29.

The Commonwealth added 1.1% to $75.40, but the other banks were flat.

Domino’s Pizza gained almost 10% to $46.62 after Wednesday’s announcement about buying a major French fast food chain.

The top stories Thursday:

1. A big miss on jobs. Australia’s September jobs report stunned financial markets today with the ABS reporting a fall in employment of 5,100.

2. The competition watchdog is concerned at the massive Asciano takeover. The deal approved by the Asciano board values the Australian ports and rail group at $A12 billion. Asciano lost 7.6% to $7.88.

3. IAG abandons further investment in China. The Australian insurance giant had been investigating taking a major investment in China, possibly second tier national insurance industry player. IAG gained more than 6% to $5.36.

4. Think contrarian. The quarterly Credit Suisse Australian Equity Outlook report.

5. Another big buyback. CSL launches its biggest, this time $1 billion. CSL shares were flat at $88.99.

6. Australia’s has the biggest middle class. But has slipped in rankings for the top 10 countries with the highest average wealth.

7. A venture capital platform. First State Super announced it will create its own platform to invest in technology, fintech and biosciences.

8. Auto love. Australians just bought more than 100,000 vehicles in one month for the first time.

9. A clean business. Why a marine scientist studying for her doctorate is building a car wash startup instead.

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