Australian stocks closed higher.
Here’s the scoreboard:
- S&P ASX 200: 5,225.40 +37.69 +0.73%
- All Ordinaries: 5,289.40 +38.45 +0.73%
- AUD/USD: 0.7631 +0.0031 +0.41%
The big miners bounced back, following a rise in the price of oil, breaking a three session negative run on the local market.
BHP was up 4.6% to $20.57 and Rio Tinto 3.6% to $50.29. Pure iron ore player Fortescue Metals gained 6.2% to 43.250.
The Bank of Queensland was down 3.4% to $11.33 as the regional bank went ex-dividend.
The major banks were mixed with Westpac down 0.87% to $30.67 and the ANZ up 0.59% to $24.02.
The top stories Thursday:
1. Bonds underwear and Sheridan sheets are going to the US. The American clothing giant HanesBrands has launched a $1.1 billion takeover of Pacific Brands whose shares closed almost 23% higher at $1.15.
2. Woolworth liquor gets its own brand. The struggling supermarket group restructured its growing liquor group under a new name, Endeavour Drinks Group. Woolowrths closed 3.6% higher at $22.03.
3. Another record profit. Blackmores, whose shares are the most expensive on the ASX, posted a record profit of $76 million for the first nine months of the financial year, a 145% increase. Its shares were up 3% to $152.29.
4. Warren Hogan’s view. Australia now risks being dragged into the zero interest rate malaise.
5. A detergent cartel. Colgate-Palmolive has been hit an $18 million fine, one of the biggest in Australian corporate history, after pleading guilty to being part of a cartel.
6. The AIM national salary survey. Australians are increasingly unhappy at work with company culture and slow wage growth encouraging them to look for something better.
7. A pay rise? This could well be the most depressing chart in Australia right now, at least for those expecting a hefty pay increase this year. Also read: Why the falling cost of living is no reason to celebrate.
8. Inside Intuit’s uber creative Sydney HQ. The two-storey office spans 1480 square metres and comes with stunning views of the Sydney Harbour from the 34th floor.
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