AUSTRALIAN STOCKS LIFT AGAIN: Here's what you need to know

Amer Ghazzal / Barcroft Media / Barcroft Media via Getty Images

Australian stocks closed higher.

Today’s scoreboard:

  • ASX200: 6,054.70 +17.70 +0.29%
  • All Ordinaries: 6,168.80 +18.10 +0.29%
  • AUD/USD: 0.8014 +0.0013 +0.16%

The local market added to yesterday’s gains with financial stocks doing the heavy lifting.

Macquarie was up 1.8% to $104.61 and AMP 0.9% to $5.21.

Whattle Health was up 4.7% to $1.97 after the infant formula company posted strong sales numbers for the second quarter of 2018.

Jeweller Michael Hill was up 6.5% to $1.305 announcing its exit from its loss-making US business.

Telco Swift Networks jumped 9.3% to $0.47 after reporting that it expects first half revenue to be $10.4 million, a rise of 32%.

Real estate Agency McGrath added 1.96% to $0.52, after dropping 12% on Monday following the departure of the CEO.

Top stories:

1. JOHN MAULDIN: Australia’s housing market could be the fly in the ointment for the global economy.

2. Olivia Wirth is the new CEO of the Qantas Loyalty business. Hudson is a 23-year veteran of the business and currently executive manager of sales and distribution.

3. Rich magnet. More of the world’s wealthy are moving to Australia than any other country.

4. A Canadian cannabis manufacturer plans to list on the ASX. NextLeaf Solutions would be the second Canadian born-and-bred cannabis company to list in Australia.

5. CBA is paying $1.9 million in compensation for poor advice by financial planners. ASIC said the bank had written to all 3500 customers of the five advisers, who had been flagged as part of a detailed compliance review.

6. Kathmandu has defied the retail crunch. The adventure clothing chain says good Christmas sales in Australia will help it report stronger profit for the first half of 2018. Kathmandu shares closed at $2.22, up 0.45%.

7. GetSwift has suspended trading in its shares. The ASX-listed technology company, which has been in a trading halt since Monday, has suspended trading in its shares following a please explain from the ASX after reports of lost contracts.

8. Australian tech incubator guru Annie Parker is joining Microsoft as its global head of startups. Parker co-founded Telstra’s Muru-D accelerator in 2013 before leaving 12 months ago to spend six months as CEO of the ill-feted Lighthouse startup precinct at Barangaroo.

9. A company without people. 7 mistakes people make when thinking about people and culture.

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