AUSTRALIAN STOCKS HOLD GAINS: Here's what you need to know

Australia’s Elijah Winnington competes in the Men’s 200m Butterfly during the 2017 Australian Swimming Championships in Brisbane. Quinn Rooney/Getty Images

Australian stocks closed marginally higher.

Today’s scoreboard:

  • ASX 200: 5,934.00 +4.73 +0.08%
  • All Ordinaries: 5,968.90 +4.29 +0.07%
  • AUD/USD: 0.7498 -0.0001 -0.01%/li>

The major banks kept the rest of the local market afloat to score a positive close for the third day this week.

The ASX200 is 1.2% ahead so far this short trading week.

The ANZ was up 1% to $32.13 and Westpac just 0.1% to $34.93.

BHP was down 0.3% to $25.32 and Rio Tinto 0.2% to $61.89.

The major drag was Telstra, which fell more than 7% to $4.22 after TPG Telecom announced plans for its own mobile phone network.

The top stories:

1. TPG Telecom is building its own $1.9 billion mobile network. The telco had a winning a bid for spectrum in the 700MHz band at an auction by the Australian Communications and Media Authority. Also read: This is Billionaire David Teoh’s strategy.

2. Taxation statistics. The 10 richest postcodes in Australia and the 10 highest paying jobs.

3. Google has killed off plans to redevelop a disused power station on the edge of Sydney. The global tech giant spent more than 18 months in negotiations with the state government’s developer, UrbanGrowth NSW.

4. Blackbird and Mike Cannon-Brookes have just tipped $5 million into a satellite startup. Fleet wants to be part of the Internet of Things and has plans to connect via more than 100 nanosatellites.

5. The ATO is shutting its websites over Easter. If you were planning to get stuck into the chocolates and your tax over the break, relax.

6. Peter Thiel committed $47 million to an Australian finance firm and then sold down. The tech billionaire and Donald Trump adviser was behind investments in a Melbourne-based holding company, Sargon Capital.

7. Australians aren’t concerned about the upcoming budget. The latest Westpac-MI Australian consumer confidence index.

8. Beijing has banned property websites from providing advice on feng shui. It’s all about cooling a red-hot housing market.

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