Australian stocks rallied again.
- ASX 200: 5,929.30 +16.42 +0.28%
- All Ordinaries: 5,964.60 +15.73 +0.26%
- AUD/USD: 0.7505 +0.0004 +0.05%
The local market headed higher for the second day in a row, bringing the ASX200 index closer to the 5900 point mark.
The major banks and the big miners, minus BHP, led the charge.
Westpac was up 1.2% to $34.87 and the NAB 1% to $33.01.
Rio added 1.9% to $62.03 and Woodside Petroleum 1.6% to $33.76. BHP fell 1.1% to $25.41 after its shares rose 4.6% on Monday.
The top stories:
2. Get ready for a slowdown in house price growth. Economists at the National Australia Bank don’t expect prices across to decline this year or next but the pace of growth will slow noticeably from the levels seen in 2016.
3. Oroton’s CEO has gone. Mark Newman has stepped down after four years as CEO of the luxury retailer.
4. Another class action. This time against Woolworths, for about a $100 million.
5. The performance of Australian IPO listings in he March quarter. They returned an average of 18.3% over the three months.
6. BHP doesn’t like the plan which sent its shares rocketing. The big miner says the costs and risks of a proposal to spin-off the big miner’s oil assets would outweigh any potential benefits.
7. Foreign capital is flocking back to emerging markets in Asia. According to research by ANZ, capital inflows to the region rose to $US15.3 billion in March, the largest one-month increase since the middle of last year.
8. The Qantas store accidentally sold Apple Mac Pro computers at a $4,000 discount. All pending orders for the Apple Mac Pro computer have been cancelled.