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

Artist Nomi Lakmaier is lifted by 20,000 multi-coloured party balloons on the stage of the Concert Hall at the Sydney Opera House. Cameron Spencer/Getty Images

Australian stocks closed higher.

Today’s scoreboard:

  • ASX 200: 5,779.00 +23.16 +0.40%
  • All Ordinaries: 5,779.00 +23.16 +0.40%
  • AUD/USD: 0.8022 +0.0018 +0.22%

The local market started a new week with a surge helped by stronger prices for the major banks.

The NAB was up 1.1% to $31.20 and the ANZ 1% to $30.18.

Weaker iron ore prices hit some miners. Pure-play iron ore miner Fortescue Metals was down 2.7% to $5.40.

Top stories:

1. Macquarie moves first on open banking. Fintech startups and smaller financial services providers will be able to access data from Macquarie with customer consent.

2. Most Australian retailers don’t have a strategy for Amazon. The Commonwealth Bank’s latest Retail Insights research.

3. Australians finally think pay rises are coming. According to the CEB Global Talent Monitor, Australian workers expect a 2.5% rise in base pay, and 0.7% increase in bonuses, the highest level since 2011.

4. Melbourne’s housing market appears to be outpacing Sydney. Clearance rates for Australian auctions were little-changed last week, with the Melbourne market driving higher volumes.

5. Bruce Gordon and Lachlan Murdoch lost their case to block the sale of Channel Ten to CBS. NSW Supreme Court Justice Ashley Black said he was “not satisfied” that lawyers had established any deficiencies in the creditors’ report.

6. Same-sex marriage could be a $650 million boost to the economy. That’s according to ANZ senior economist Cherelle Murphy, who’s run some numbers on what benefits may flow if a “yes” vote is signed into law.

7. This guy ran a Sydney marathon in a suit. And set a Guinness World Record.

8. The businesses backing the “Yes” campaign for same-sex marriage. More and more companies are pledging support.

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