AUSTRALIAN STOCKS LIFT: What you need to know

Australia’s Emily Seebohm in the first Semifinal of the Women’s 100m Backstroke in Rio. Adam Pretty/Getty Images

Australian stocks started the week higher.

The scoreboard:

  • S&P ASX 200: 5,537.80 +40.39 +0.73%
  • All Ordinaries: 5,625.70 +40.06 +0.72%
  • AUD/USD: 0.7614 -0.0003 -0.04%

The local market surged past the 5500 mark on the ASX 200, making up some of the 1.1% loss of last week.

The action was driven by Wall Street hitting another record high on Friday with the S&P 500 adding 0.9%.

The major banks led the charge on the ASX with the ANZ up 1.78% to close at $25.70 and the NAB 1.4% to $26.24.

Bendigo and Adelaide Bank surged 4.3% to $10.15 after posting a 1.6% rise in cash earnings to $439.3 million, in line with expectations.

Macquarie Bank was 2.9% higher at $77.48.

BHP added 2.2% to $20.48 and Woodside Petroleum 1.9% to $27.41.

The top stories:

1. Big Yum at Little Coles. The supermarket chain is experimenting with a weird new convenience store brand.

2. A tin of caviar is baked beans for bankers. Why this former Goldman Sachs banker now runs a caviar company instead.

3. Life at the office. We’re starting to find you can teach people to be happier and more productive at work.

4. The small caps have the magic. The best performing stocks of 2016 for WAM Research Limited.

5. Creating an app for How to Train Your Dragon. ASX-listed mobile game company Animoca Brands has signed a deal to develop interactive e-books for DreamWorks.

6. A storytelling agency. Deloitte Australia has bought the Explainers as part of a push into the world of digital consultancy.

7. Olympics. Mack Horton’s Facebook bombarded with 40,000 insults from Chinese swim fans. Also read: Australia’s men’s 4x100m freestyle team won bronze.

8. Housing boom. Auction clearances hit their highest point of the year in the week the RBA cut rates to a record low.

9. A good drop. How this small Sydney distillery became a world beater.

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