Australia stocks closed higher.
Here’s the scoreboard:
- S&P ASX 200: 4,975.60 +44.07 +0.89%
- All Ordinaries: 5,053.70 +40.51 +0.81%
- AUD/USD: 0.7617 +0.0022 +0.29%
The banks and financial stocks led the charge higher. The market was heartened by the latest NAB business survey showing an improvement in both business conditions and confidence.
But the ASX 200 is still down 2.1% this month and 6% since the start of 2016.
Today the ANZ added 2.6% to $22.84 and the NAB 2.5% to $25.56.
Among the miners, BHP was up 2.1% to $16.90 and Rio Tinto 2.3% to $45.33.
Stocks exposed to online selling in China dropped again over fears that new taxes would slow growth. Bellamy’s was down 10.7% to $8.88, Blackmores 6.5% to $165.38, a2 Milk 6.4% to $1.59 and Bega 3.3% to $5.53.
The top stories Tuesday:
1. The Blackmores sell off. Blackmores CEO is frustrated at the negative reaction to changes in China’s rules and taxes for online purchases.
3. Singapore fintech deal. Mint Payments came out of a trading halt to announce a deal with Singapore’s NETS (Network for Electronic Transfers).
4. Another Singapore deal. Mobile commerce company Mobile Embrace has signed a new partnership agreement with one of Asia’s largest telcos, Singapore-based StarHub.
5. The Great Wall of tourists from China. Australia has a new competitor for the Chinese tourist dollar.
6. Out of corporate life and into suits. These guys dropped out of their company jobs and now run a $10 million online store.
7. Uber goes legit. Every cab owner in South Australia will get $30,000 as Uber is legalised.
8. The fiver has had a design update. The new look not was unveiled by the RBA today.
9. Look inside. The $13 million mansion on Gold Coast’s millionaires Row.
10. Driving pleasure. This is the most expensive Mercedes you can buy in Australia.