AUSTRALIAN STOCKS JUMP: What you need to know

The Sydney Dance Companys new double bill production, Untamed. William West/AFP/Getty Images

Australian shares closed higher.

Today’s scoreboard:

  • S&P ASX 200: 5,410.80 +22.12 +0.41%
  • All Ordinaries: 5,492.00 +21.12 +0.39%
  • AUD/USD: 0.7670 +0.0040 +0.52%

The local market added weight for the first time in five sessions, with the ASX 200 regaining a level above 5400 points.

The market has moved less than one point lower on the ASX 200 since the start of the month.

Today, BHP led the pack, up 1.1% to close at $22.64. Among the banks, the ANZ Bank added 0.8% to $27.83.

Crown resorts gained 1.7% to close at $11.34 after losing 13.9% yesterday following the detention of 18 of its employees in China. Star Entertainment Group, the other listed casino company, was down 0.5% to $$5.49.

Challenger added 6.2% to $10.62 after reporting a 3% rise in assets under management to $62 billion.

The top stories:

1. The RBA governor. Philip Lowe outlined what he’s looking at when deliberating interest rates. Also: He warned that a Trump victory would not be benign for the global economy like Brexit.

2. A merger is on the table. Listed gambling companies Tatts and Tabcorp both went into trading halts using similar language about a “potential change of control transaction”.

3. Companies are still finding it hard to get the right talent. And they are re-thinking their approach to staff because of rapid shifts in skills demand. Also read: The most in-demand jobs and skills.

4. The Crown resorts staff in China. Billionaire James Packer says he will do everything possible for his Crown Resorts employees. Also read: Buy Crown.

5. Caltex wants to stay with Woolworths. Caltex Australia says it has made a conditional and confidential offer to Woolworths for its fuel business and wants to continue its “successful” fuel alliance.

6. Backed by Scott Farquar of Atlassian. Startup SafetyCulture raises $30 million as it sets its sights on becoming Australia’s next Atlassian.

7. Weet-Bix makes a move on China. Australian company Sanitarium Health and Wellbeing, the maker of Weet-Bix, is finally making a play to be the ready-to-eat food of choice at breakfasts in China.

8. From iron ore to mobile advertising. Airmarket, a mobile phone advertising platform, will emerge from a backdoor listing on the ASX through Cabral Resources, a resources company which once wanted to be a significant iron ore producer.

9. PHOTOS. Expedia’s chic Sydney digs have some of the coolest meeting spaces we have ever seen.

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