Australian stocks closed higher for the sixth session in a row.
- S&P ASX 200: 5,411.60 +23.07 +0.43%
- All Ordinaries: 5,490.40 +20.09 +0.37%
- AUD/USD: 0.7621 +0.0013 +0.17%
The local market ignored a weak Wall Street to break through the key 5400 point level on the ASX 200 index.
The banks held the market up but the miners, dragged down by falls in commodities prices, held it back.
The ANZ was up 1% to $24.75 and Westpac 0.95% to $29.80.
BHP was down 1.1% to $20.34, Rio Tinto 1.1% to $50.20 and Fortescue Metals 4% to 4.22.
Energy stocks fell with Woodside Petroleum down 1% to $26.75 and LNG 2% to $0.72.
Bulletproof, a cloud services provider, closed down 13.7% to $0.345 after warning about profits.
Treasury Wine Estate was up 3.8% to $9.57 after JPMorgan analysts gave the company a positive review of sales into China.
Sentiment was strong on sales of infant milk formula in China. Bellamy’s added almost 5% to $11.80 and a2 Milk was up 3.8% to $1.87.
The top stories Thursday:
1. Employment. Australia’s jobs report was stronger than it looks. According to the Australian Bureau of Statistics (ABS), employment grew by 7,900 in seasonally adjusted terms, slightly missing expectations for a gain of 10,000.
2. Getting better returns. The 3 top performing Australian IPOs you’ve never heard of.
3. No real estate experience. McGrath Limited, whose earnings are suffering in a cooling real estate market, has appointed human resources expert Cameron Judson as joint CEO. Its shares closed almost 2% higher at $1.03.
4. Election 2016. The close election result is credit negative for Australia.
6. Another way to pay. Android Pay has launched in Australia.
7. A question of money. This is how little most people know when it comes to their own finances.
8. Gigs best avoided. These are Australia’s most dangerous jobs.
9. Pokémon GO. Some locations should be off limits.