AUSTRALIAN STOCKS LOWER: Here's what you need to know

Georgia Nanscawen of Australia with Sam Quek of rreat Britain during at the Hockey World League Final in Rosario, Argentina. Chris Brunskill/Getty Images

Australian stocks fell.

Here’s the scoreboard:

  • S&P ASX 200: 5,080.50 -28.11 -0.55%
  • All Ordinaries: 5,129.90 -28.08 -0.54%
  • AUD/USD: 0.7220 +0.0003 +0.05%

The Australian market coasted to a weak close with many of the resources stocks, sold down heavily on Tuesday, clawing back some losses.

Seven out of ten sectors were lower. Industrials lost 0.93% but energy stocks, which fell 6.35% yesterday, were up 0.35% as a group.

Santos added 5.7% to $43.50 and Woodside Petroleum 0.52% to $27.03.

BHP closed up 0.65% to $17.16 after losing 5.2% yesterday. Rio Tinto today was down again, 0.83% to $42.05, adding to yesterday’s 4.3% fall.

The banks were mixed. The ANZ was down 1.45% to $26.43 but the Commonwealth closed up 0.18% to $80.29.

Dick Smith, sold down recently because of a poor profit outlook, added almost 9% to $0.365.

The top stories Wednesday:

1. Property blues. Lending to Australian housing investors is falling off a cliff. Also see: The collapse in Australian investment property lending, in 6 charts.

2. Looking for the creator of Bitcoin. The Australian suspected of being the inventor had his house raided today.

3. Private equity interests? They are reported to be circling pet shop and veterinary group Greencross. The company closed up 0.42% to $$4.76.

4. A big present. Tesla’s Powerwall will be on sale in Australia before Christmas

5. An inflation problem. Australia has a problem with falling inflation and it has important implications for everyone.

6. A legal crop. An Australian medicinal cannabis company plans to grow marijuana on Christmas Island.

7. Big processing power. Why the government, Telstra and the Commonwealth Bank are backing quantum computing.

8. Write another line. Australia gets its first accredited bootcamp to help business people learn about code.

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