Australian shares closed higher.
- ASX 200: 5,724.40 +20.83 +0.37%
- All Ordinaries: 5,762.90 +19.00 +0.33%
- AUD/USD: 0.7601 -0.0001 -0.01%
The local market was supported by the banks with Westpac up by 0.9% to $30.87 and NAB 0.8% to $30.06.
BHP was down slightly, by 0.29%, to $24.52 and Rio Tinto a bit higher, up 0.09% to $65.10.
Ardent Leisure, which owns Dreamworld where four people died last year, added 1.2% to $2.07 after reporting a rise in visitor numbers to its theme parks in June.
South32 shares fell 3.2% to $2.72 after announcing that operations at its NSW Appin mine are still suspended.
1. House prices in Melbourne and Sydney soar again. Australia’s other mainland state capitals are trailing in their wake.
2. ANZ and Westpac successfully used blockchain on commercial property deals. The trial used distributed ledger technology to replace paper-based guarantee documents, resulting in a single source of information with reduced potential for fraud and increased efficiency.
3. The most vulnerable to a consumption crunch. The research team at Capital Economics expects real consumption growth to fall to 2% by the end of 2017, down from 3% at the start of last year.
4. Slater and Gordon has gone into a trading halt, again. Slater and Gordon says the halt is related to “mediation” of a class action started in October last year and to the company restructure announced last month.
5. An Australian daily fantasy sports startup. Daniel Simic’s new venture PlayUp is seeking a $10 million capital raising round to get it off the ground.
6. Tesla sales stopped dead in Hong Kong. The Hong Kong government’s decision to scrap a tax break for electric vehicles has reportedly had a dramatic effect on sales of Tesla cars in the city.
7. Twilio is now hiring in Australia. A $US2.5 billion startup that powers Uber and AirBnB is getting ready for Australia.
8. Citi has downgraded Bellamy’s. Shares in the maker of organic infant formula, whose spectacular grown in China has hit a speed bump, have been downgraded to a sell.
9. CSL has been hit with a patent infringement claim. US-based biotech Bioverativ has filed complaints in the US District Court for the District of Delaware and with the International Trade Commission. CSl shares were down just 0.6% to $133.320.