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

Getty Images- Cameron Spencer

Australian stocks closed higher.

Today’s scoreboard:

  • ASX200: 5,855.90 +35.20 +0.60%
  • All Ordinaries: 5,957.00 +37.30 +0.63%
  • AUD/USD: 0.7867 +0.0006 +0.08%

The local market bounced higher at the open, buoyed by surge on Wall Street where the S&P500 added 1.7% and the Dow Jones index 2%.

But the ASX then dipped again before regaining lost ground in late trade.

At the close, Rio Tinto was up 1.1% to $78.87 and BHP 1.1% to $29.90.

The banks ended in the green with the Commonwealth 0.5% higher at 76.30.

Among retailers, Myer was down 2.7% to $0.535 but JB Hi-Fi was up 2.1% to 26.42.

Toll road operator Transurban closed at $11.33, down just 0.18%, after posting a 280% rise in half year profit to $331 million.

Boral was down 2% to $7.28 after the construction materials company posted a 13% rise in profit to $173 million for the first half.

Top stories:

1. Alceon buys into DirectMoney. The alternative investment manager with more than $1 billion of assets under management took a strategic stake in the online lender. DirectMoney shares closed 51% higher at $0.041.

2. Cochlear’s profits eaten by US tax cuts. Australia’s bionic ear company posted a 1% fall to $110.8 million in first half profit, partly due to US President Donald Trump’s company tax cuts. Its shares were flat at $171.74.

3. Qantas buys into a US-based software startup. Volantio’s web-based platform identifies flexible passengers on high demand flights, make them offers to move to lower demand flights, and automatically rebook them once they accept.

4. More women are working. And it could determine Australia’s economic fortunes.

5. JOYCE DIGS IN: Embattled Deputy PM talks of legal action, explains partner’s job assignments.

6. The jobs most in demand in Australia for 2018. Demand is stronger than expected for people to fill key jobs in finance and tech at the start of the calendar year.

7. An autonomous passenger aircraft, virtual reality. Telstra’s muru-D just picked 10 new startups for its accelerator program

8. DATE NIGHT: 13 wines that add romance to your life.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.