AUSTRALIAN STOCKS NOSE AHEAD: Here's what you need to know

Max Mumby/Indigo/Getty Images

Australian stocks closed higher.

Today’s scoreboard:

  • ASX 200: 5,871.80 +17.66 +0.30%
  • All Ordinaries: 5,900.70 +15.05 +0.26%
  • AUD/USD: 0.7561 +0.0018 +0.24%

The local market, one of the first to trade after a centrist victory in the French elections, cruised to a positive close, with the banks ahead and the miners slipping.

Westpac was up 0.7% to $34.61 but Rio Tinto was down 0.7% to $59.82.

Village Roadshow dropped 6.4% to $3.75 after a trading update showing its theme parks still impacted by last year’s fatal tragedy at competing theme park Dreamworld.

Cancer treatment company Sirtex fell 12.9% to $14.80 after a clinical trial showed treating liver cancer with its SIR-Spheres versus the standard treatment had no difference in patient survival rates. However, the side effects in using the radioactive beads were “significantly less”.

The top stories:

1. UBS just called the top of the Australian building boom. Its expects new housing starts to fall next year with price growth set to moderate.

2. And the Sydney property market is showing tentative signs of easing. Preliminary data from CoreLogic indicates house prices in Sydney may be starting to cool.

3. The 457 visa crackdown hasn’t helped Malcolm Turnbull’s poll ratings much. A Newspoll in The Australian newspaper today shows a one-point bump on the two-party preferred measure, putting the Coalition at 48-52 behind Labor.

4. Spotless has rejected Downer EDI’s bid. The mining services company’s $1.15 a share offer was rejected today as not reflecting the true value of the cleaning business.

5. A Brisbane fund manager just made a pile of money on the French election. Here are the other calls he’s made for the year ahead. Henry Morgan shares closed 8.5% higher at $1.78.

6. DroneShield has just sold a DroneGun. The ASX-listed company has just got an order for one of its DroneGun jammers to be tested in the Middle East by a G7 country. Its shares were up 1.4% to $0.34.

7. Elon Musk just had a night out on the Gold Coast with actress Amber Heard. Johnny Depp’s ex-wife returned to Australia last week for the first time since last year’s infamous Pistol and Boo dog saga.

8. Incredible photos of the Gallipoli campaign. Tomorrow, April 25, marks 102 years since Australian, New Zealand, British, French and Indian troops went ashore on the Gallipoli peninsula to battle Ottoman troops in the Dardenelles campaign.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at