Australia stocks, whose march higher was interrupted on Tuesday, gained ground today.
- S&P ASX 200: 5,488.70 +37.45 +0.69%
- All Ordinaries: 5,565.90 +32.03 +0.58%
- AUD/USD: 0.7500 -0.0008 -0.11%
The local market shrugged of yesterday’s 0.13% loss, the first after an eight session winning streak, to close in positive territory again. The ASX 200 is up 255 points or 4.8% since the start of July.
Today the major banks added weight with Westpac up 1.2% to $30.38.
But the big miners fell. BHP dropped 2.9% to $19.25 and Rio Tinto 2% to $48.00.
CIMIC (formerly Leightons) shed 19% to $26.96 after posting a 3% rise in first half profit to $265.2 million and a 31% fall in revenue to $4.95 billion.
The top stories Wednesday:
1. The Samarco effect. BHP’s full year iron ore production for 2016 was down 2% to 227 million tonnes because of the fatal mine disaster in Brazil in November. Also read: BHP sees write-downs and redundancy costs ahead.
2. Pokémon GO. The amazing ride of Nintendo shares, fueled by the wild spread of its smartphone game Pokémon Go, appears to be over. Its shares dropped 12.61%.
3. BidEnergy. An energy startup led by Stuart Allinson, a former chair of he Climate Change Authority, listed on the ASX.
4.Making data usage for Pokémon GO a bit cheaper. Content services company Syntonic listed on the ASX today. Its shares closed 16.6% higher at $0.035.
5. The next gig. Here’s proof there are plenty of jobs on offer right around Australia.
6. A financial management platform. This startup just won Westpac’s 2016 Innovation Challenge.
7. That corporate dress code. Life just become more complicated for men.
8. Do your brain a favour. Science says reading fiction does something special.