AUSTRALIAN STOCKS HOLD ON TO GAINS : What you need to know

Su Oh of Australia plays on the sixth hole during the first round of the CME Group Tour Championship at Tiburon Golf Club in Naples, Florida. Sam Greenwood/Getty Images

Australian stocks closed the session marginally higher, keeping most of the gains of last week.

Today’s scoreboard:

  • S&P ASX 200: 5,359.40 +20.86 +0.39%
  • All Ordinaries: 5,427.50 +18.57 +0.34%
  • AUD/USD: 0.7394 -0.0013 -0.18%

The local market added a little weight for the second session in a row.

And the ASX200 fell just 0.2% over the week, holding on to most of the 3.7% rise of last week.

Today the major banks were just in positive territory, with the NAB up 0.4% to $28.47 and the ANZ just 02.% to $27.98.

Telstra helped keep the market above water, closing at $4.93, up 1.8%.

Funds manager Platinum Assets was down 3% to $5.20 after a broker downgrade.

The top stories:

1. Myer’s prospects are suddenly a bit better. The troubled retailer says it expects a return to profit growth this financial year. Its shares added 14% to close at $1.19.

2. Weak sales and a flat profit forecast for Kathmandu. The adventure clothing retailer says a stronger dollar is dragging down revenue. Its shares dropped almost 3.4% to close at $1.71.

3. The lessons from the fatal Samarco dam failure. BHP is creating a new global tailings dam standard.

4. Ruslan Koagn sees better days ahead. Pure play online retailer kogan.com has increased its earnings forecasts after reporting better than expected sales. Its shares rose 2% to $1.48.

5. A $19.5 billion loan to finish the NBN. The Turnbull government is funding the rest of the high speed internet network rollout.

6. Australian targets in a new Islamic State video. A Qantas passenger jet, Melbourne Airport and St Paul’s Cathedral are listed in a new propaganda video.

7. A man sets fire to a Commonwealth Bank branch. Twenty-one people, including two children, were injured.

8. The 10 best new restaurants in Sydney. A tough choice but here Business Insider’s top 10 for 2016.

9. Amazon Prime Video has arrived in Australia. The cut-throat streaming entertainment market in Australia has just seen a giant multinational competitor barge in.

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