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

Raymond Roig/AFP/Getty Images

Australian shares closed higher.

Today’s scoreboard:

  • ASX 200: 5,765.70 +21.95 +0.38%
  • All Ordinaries: 5,816.40 +20.69 +0.36%
  • AUD/USD: 0.7884 -0.0029 -0.37%

The major banks and the big miners kept the local market above water. The NAB was up 0.9% to $30.45 and Rio Tinto added 0.5% to $66.42.

Carsales.com added 2.9% to close at $12.88 after posting an 8% rise in full year adjusted profit to $119.1 million.

Shares in Resapp Health fell by 77% to $0.070 after a disappointing results of a study into its smartphone app for the diagnosis of respiratory disease.

Mayne Pharma fell 7.4% to $0.745 after reporting sales down in the second half reflecting a more competitive generic drug market.

The local market

1. A record result for the CBA. The bank, currently beleaguered by a money-laundering scandal, posted a 4.6% increase in cash profit to $9.88 billion and a 7.6% surge in net profit after tax to $9.93 billion. Its shares closed 0.5% higher at $81.110.

2. IAN NAREV: The CBA money laundering scandal doesn’t “reflect well” on me. Also read: The actions of senior managers in the money-laundering scandal who run compliance are also under scrutiny.

3. Lending to housing investors is increasing again. According to the Australian Bureau of Statistics (ABS), housing finance rose by 0.8% to $33.261 billion during the month in seasonally adjusted terms.

4. EXPLAINED: Everything you need to know about cryptocurrency.

5. Providing free Foxtel. A 33-year-old Sydney man has been given an 18-month suspended prison sentence.

6. Bellamy’s finally has a win in China. The company says its subsidiary Camperdown Powder, which produces milk power, has had the suspension of its license lifted by the Certification Accreditation Administration (CNCA) in China. Bellamy’s shares were up 4% to $8.20.

7. The secrets of Australia’s gig economy. In Australia, the gig economy, characterised by short term employment contracts, is growing at exceptional speed, with the casual workers now representing a fifth of Australia’s work force.

8. TABLE: How downbeat Australians have become over the past year.

9. Dual citizenship questions. Pauline Hanson’s colleague Malcolm Roberts wants to refer himself to the High Court.

10. 4 out of 10 Australians are sleep deprived. A study by Deloitte Access Economics estimates more than one Australian will die every day, or 394 a year, from falling asleep at the wheel of a vehicle or from industrial accidents due to lack of sleep.

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