AUSTRALIAN STOCKS LIFT: What you need to know

A flooded picnic area at West Swan in Perth. Parts of Western Australia are underwater after heavy rainfall hit. Paul Kane/Getty Images

Australian shares closed higher.

Today’s scoreboard:

  • S&P ASX 200: 5,760.70 +40.09 +0.70%
  • All Ordinaries: 5,812.90 +41.31 +0.72%
  • AUD/USD: 0.7669 +0.0003 +0.04%

The local market added weight at the start of a new week, led by the big miners.

Rio Tinto was up 3.5% to $68.32 and BHP 2.2% to $26.45. And pure play iron ore miner Fortescue Metal gained 6% to $6.88.

Packaging company Amcor added 4.3% to $15.18 after posting a 6.2% fall in profit to $US286.6 million ($A373 million). The company still expects full year profit to be higher last year.

Condom maker Ansell fell 2.1% to $21.65 after posting a flat profit of $US69.8 million ($A91 million), up just 0.3% mainly due to currency fluctuations.

Gold miner Newcrest was up 0.8% to $22.72 after profit jumped to $US187 million ($A243 million) from $US81 million ($A105 million).

The top stories:

1. Domino’s Pizza is investigating visa fraud at its stores. Domino’s says the media coverage doesn’t reflect the high ethical standards required of all employees and franchisees. Its shares lost 4.7% to close at $61.00.

2. Pressure on lending margins. Bendigo and Adelaide Bank’s net interest margin slid to a four-year low of 2.10% in the second half of 2016. Its shares lost almost 5% to close at $12.00.

3. Sorry about that. Foxtel say it won’t take two men who shared the Mundine fight on Facebook Live to court after they apologised.

Facebook Australia’s managing director has quit. Stephen Scheeler left the social media platform last week for ­reasons unknown.

4. JB Hi-Fi defies the retail crunch. The consumer electronics chain posted a record half year underlying profit after tax of $125.4 million, a 31.7% increase. Its shares closed 3.2% higher at $29.38.

5. The squeeze on property investment loans. Bankwest has removed the tax benefits from negative gearing in loan calculations.

6. A former TZ director Andrew Sigalla has been jailed. Andrew John Sigalla was sentenced to a minimum of six years imprisonment for using company funds to pay off gambling debts.

7. A massive diamond. The Perth-based Lucapa Diamond Company has found a 227 carat gem, the second largest ever found in Angola and worth millions of dollars. Its shares were up 5% to $0.395.

8. It’s summer in Australia when property market activity tends to slow. But not in 2017 and certainly not in Sydney.

9. Foxes climbing trees to get to koalas. Red foxes in country NSW have been caught on camera climbing eucalyptus trees inhabited by koalas.

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