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

The Sculpture by the Sea exhibition in Sydney. Peter Parks/AFP/Getty Images

Australian stocks closed higher.

Today’s scoreboard:

  • ASX200: 5,919.10 +15.94 +0.27%
  • All Ordinaries: 5,983.70 +14.42 +0.24%
  • AUD/USD: 0.7676 -0.0001 -0.01%

The local market pushed higher, following strong gains on Wall Street at the close of last week.

Energy companies gained weight following a rise in the price of oil. Woodside Petroleum was 1.3% higher at $30.24 and Santos 3.6% to $4.51.

Macquarie was up another 0.95% higher at $98.84 after last week posting a 19% rise in net profit to $1.25 billion for the first half.

Top stories:

1. The housing market. Sydney is leading what looks like a slowdown.

2. The Myer board fights back. The chairman elect says Solomon Lew wants to take over without paying for it. Myer shares were down 3.1% to $0.765. Premier shares were up 0.6% to $13.20.

3. Australia’s ASX 200 is about to breeze past 6000 points. Citi researchers Tony Brennan and Mark Tomlins.

4. NBN director Michael Malone: Complaining customers should be sent to the back of the queue.

5. Worker fewer hours, not more. The view of Andrew Mackenzie, the chief executive of BHP, the world’s biggest mining company.

6. The bank bill swap rate legal action. NAB has done a $50 million deal to settle manipulation of interest rates allegations. NAB shares closed at $32.82, up 0.6%.

7. The Hydroponics Company gets approval to grow cannabis. A licence from the Australian Government’s Office of Drug Control. Its shares rose 42% to close at $0.32.

8. The hits keep coming. Petrol prices just jumped by the most in 13 years.

9. PHOTOS: Inside the beautiful 2017 Australian Home of the Year.

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