Australian shares closed the session, and the week, higher.
- S&P ASX 200: 5,714.00 +42.49 +0.75%
- All Ordinaries: 5,765.60 +39.60 +0.69%
- AUD/USD: 0.7528 -0.0008 -0.11%
The local market rallied for a third session, breaking through the key 5700 point barrier on the ASX200 index and ending a short trading week 1% higher
Investors followed Wall Street as it hit record highs.
The big four banks led the surge with Westpac up 1.8% to $32.35 and the NAB 1.39% to $30.68.
The top stories:
1. US-based Delta Partners has grabbed a key stake in Bellamy’s. The private equity and investment group went on market to buy 5.5% in the troubled Tasmanian infant formula company. Bellamy’s shares closed 3% higher at $3.93.
2. Surging iron ore prices may spur mining investment. The investment appetite of miners may be revived with current prices far outstripping the cost of production for most companies, according to Westpac.
3. A huge year ahead for Australia’s energy sector. 2017 is the year when many long-festering energy policy problems must be addressed.
4. Pizza Hut underpaying. A major check of Australia’s Pizza Hut franchise chain by the Fair Work Ombudsman found three-quarters of stores did not to comply with workplace laws.
5. What to look out for if you’re part of the gig economy. The sheer amount of freelancers and their significant contribution to the economy, make it important to consider what makes a good place for gig workers to do their gigs.
6. Domino’s and a new Sunday surcharge. The share price of Domino’s Pizza has fallen $6, or 9%, since it introduced a Sunday surcharge earlier this month to pay for higher wages.
7. The 5 trends in retailing for 2017. The latest annual Global Powers of Retailing report by Deloitte examines the art and science of customer engagement.
8. Donald Trump’s press secretary may have just shown his password to the world. Sean Spicer has had a rough start in the job.
9. Surfing over a white pointer. An Australian dad took this photo of his 10-year-old son.