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

The Festival of the Winds at Bondi Beach. Mark Kolbe/Getty Images

Australian stocks closed marginally higher.

Today’s scoreboard:

  • ASX200: 5,943.50 +9.27 +0.16%
  • All Ordinaries: 6,023.50 +11.18 +0.19%
  • AUD/USD: 0.7594 +0.0005 +0.07%

The local market first dipped, then recovered and kept going.

The ASX200 index, however, is still below the key 6000 point mark.

The major banks were mixed with the ANZ up 0.5% to $29.29 and Westpac down 0.25% to $31.76.

Fairfax shares slipped to 31% to $0.73 as its spinoff Domain hit the ASX, trading at $3.69 and valuing the online property classifieds at around $2.12 billion.

Hospital group Ramsay Health was up 3.4% to $67.12 after forecasting a 8% to 10% lift in profits fopr 2018.

Top stories:

1. Suspect mortgage documents. NAB has sacked 20 bankers. Police called in.

2. Employment. Here’s what economists are saying about Australia’s jobs report. Also read: The run of job creation is still looking solid.

3. Wage growth in Australia is broken. The relationship between Australia’s labour market underutilisation rate against annual wage growth.

4. Accountants connected to failed startup Guvera face a possible class action lawsuit. The law firm Bannister Law is currently seeking investors who lost money.

5. 10 Australian startups just made the global Fintech100. The honour roll of the best fintechs around the world, compiled by KPMG and Australian venture capital firm H2 Ventures, consists of a top 50 ranked list and an unranked list of 50 “emerging stars” startups.

6. Another sign Melbourne’s housing market is slowing. Melbourne’s once-hot housing market is now following in Sydney’s wake.

7. Santos is in play. A consortium of major energy investors is reportedly building an $11 billion offer for the Australian producer and natural gas exporter. Its shares were up 13% to $4.95.

8. MYOB buys part of competitor Reckon. MYOB is paying $180 million to Reckon for the Accountant Group in Australia and New Zealand which provides software solutions to accounting practices. Reckon shares were up 25% to $1.52 and MYOB 0.8% to $3.66.

9. Commonwealth Bank shareholders get an apology. Chair Catherine Livingstone says the bank was “deficient” in its oversight of anti-money laundering regulations.

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