Australia stocks started the week higher.
- S&P ASX 200: 5,533.60 +35.41 +0.64%
- All Ordinaries: 5,607.50 +33.17 +0.60%
- AUD/USD: 0.7483 +0.0018 +0.24%
The local market added to last week’s 1.2% gain, with the ASX 200 once again breaking through the 5500 point level.
Today the banks and financial stocks led the pack.
The ANZ closed 0.9% higher at $25.54 and the Commonwealth 0.89% to $77.83.
The big miners lost ground with BHP closing at 19.22, down 0.4%. Santos lost 3% to close at $4.68.
The top stories Monday:
1. $4 billion in writedowns for Woolworths. And the market loved it. Also read: Woolworths is cutting 500 jobs, closing 30 stores and looking to sell EziBuy. Woolworths shares rose 8.2% to close at $24.30.
2. GET READY. Here comes the most crucial data release for Australia this year.
3. Into negative territory. Why this $78 billion Australian fund is buying negative-yielding bonds.
4. Those performance reviews. There’s a problem with the global trend to get rid of the much-loathed annual review.
5. Beating the ASX by 20%. The top 5 stocks for WAM Capital in 2016.
6. More changes at Telstra. Kate McKenzie, the chief operations officer, is retiring.
7. The property game. Fewer auctions but clearance rates continue to hover around 70%.