AUSTRALIAN STOCKS NUDGE AHEAD: What you need to know

Tamarama Beach on the first day of the Sculpture by the Sea exhibition in Sydney. Peter Parks/AFP/Getty Images

Australian shares closed marginally higher.

Today’s scoreboard:

  • S&P ASX 200: 5,442.10 +6.74 +0.12%
  • All Ordinaries: 5,526.20 +7.77 +0.14%
  • AUD/USD: 0.7667 -0.0056 -0.73%

The local market just managed to stay ahead for the third session in a row but the Australian dollar fell quickly with disappointing jobs data.

BHP held the rest of the market up, closing almost 1.7% higher at $22.85.

The banks were mixed with Westpac down 0.6% to $30.16 but with the ANZ up 0.5% to $28.03.

Pure-play online retailer Kogan.com was up 4.6% to $1.57 after a positive quarterly report showing revenue outperforming expectations by 10%.

The top stories:

1. The big miss on jobs. Also read: After creating havoc in August, the Census could be behind Australia’s wild jobs report in September. And: The monthly jobs data is a mess.

2. The losses continue at the Ten Network. The free-to-air television broadcaster posted a full year loss of $156.8 million despite a 5.4% rise in revenue to $689.5 million. Ten shares dropped 19% to close at $1.15.

3. Infrastructure dividend. NSW will get $16 billion for Ausgrid from an all-Australian consortium.

4. Crown Resorts shares hammered again. CEO Rowen Craigie says the welfare and safety of the 18 staff detained in China are his immediate concern. Its shares lost another 2.2% today to close at $10.75.

5. Drinking beer and the Great Barrier Reef. The Good Beer Co. is an Australian social enterprise beer company which brews and sells beer to raise money for environmental conservation.

6. Virgin Australia frequent flyers now earn points at Coles. The new rewards deal emulates the popular agreement between industry rivals Qantas and Woolworths.

7. Australia’s resources boom didn’t help the poor. The gap between the rich and poor in Western Australia hasn’t changed much, according to the latest analysis.

8. Super funds are doing better. The median growth fund returned 3.1% in the September quarter, a better result than the whole of 2016.

9. Too busy to think about stress. One in four Australians with a job find it difficult to make ends meet and say they have low confidence in their financial position.

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