Australian shares nudged ahead.
- S&P ASX 200: 5,475.80 +10.08 +0.18%
- All Ordinaries: 5,563.40 +12.05 +0.22%
- AUD/USD: 0.7603 +0.0014 +0.18%
The local market clawed back a small part of the week’s losses.
The big miners and energy stocks kept the ASX 200 above water but still below the 5500 mark and 1.5% down this week so far.
BHP added 1.15% to close at $19.31 and Santos gained 6.7% to $4.59. Rio Tinto, which announced a 50% fall in half year earnings overnight, closed down 1.6% to $48.62.
Among the banks, the NAB added 0.2% to $25.90 but the Commonwealth lost 0.5% to $75.66.
Downer EDI added 7.9% to close at $4.49 despite posting a 14% fall in full year profit to $180.6 million.
The top stories:
1. Huge miss for Australian retail sales. June was underwhelming again.
2. The bank CEOs are called before parliament. They will need to explain why they haven’t passed on the full benefit of official interest rate cuts to home loans.
3. Machine learning. LegalVision has raised $4.2 million in series B funding led by top-tier law firm, Gilbert + Tobin.
4. Fighting anti-money laundering allegations. Tabcorp’s full year profit dropped 49% to $169.7 million. Tabcorp shares closed at $4.84, down 0.2%.
5. Fishburners is moving into China. The four-year-old organisation, which has offices in Sydney and Brisbane, is opening in the Caohejing Tech Park in Shanghai.
5. A new $2 billion retail group. Chemmart and the Terry White Group are merging to create an Australian retail pharmacy network with 500 shopfronts.
6. Those June storms on the east coast. Full year profit at Suncorp dropped 8.38% to $1.038 billion, mainly due to increased insurance payouts.
7. Negotiating in Asia. Australian businesses reveal 3 key areas to work on.
8. Artificial intelligence in the modern workplace. Business Insider spoke to Dave Wright, the chief strategy officer at cloud computing business ServiceNow.
9. WATCH: What it looks like to surf inside the barrel of a wave.
NOW LISTEN: PODCAST: With Shane Oliver on the RBA, the banks, and the big questions for the global economy