Australian stocks closed higher.
- ASX 200: 5,785.80 +11.80 +0.20%
- All Ordinaries: 5,827.50 +13.82 +0.24%
- AUD/USD: 0.7686 -0.0024 -0.31%
An early surge, spurred by gains on Wall Street where the S&P500 added 0.8% overnight and the Fed decided to raise rates, slowed as the day progressed.
The major banks fell and the big miners jumped, balancing each other.
The ANZ was down 2.4% to $31.95 and Westpac 1.67% to $34.22.
BHP added 3.6% to $25.10 and Rio Tinto 2.2% to $62.20. Fortescue Metals continued its climb, gaining 4% to $6.80.
HearMeOut launched an app to connect a smartphone to a car’s systems and its shares jumped by 30% to 19.5 cents.
The top stories:
2. Home loan interest rates are on the way up. The NAB announced increases in interest rates on both its owner-occupier and investor home loans.
3. The biggest civil fine in Australian corporate history. Tabcorp just got hit with $45 million for breaching money laundering rules.
4. Ethical investment at AMP Capital. Australia’s second largest fund manager is selling off $570 million in tobacco and weapons investments.
5. Discount fatigue for Australian shoppers. That’s partly the reason why the Myer annual stocktake sale was so subdued this year. Also read: Myer returns to profit growth. Myers shares fell 5% to close at $1.08.
6. High times for cannabis. A tiny mining company got a licence to grow medical cannabis indoors. Its shares soared, closing 60% higher at $0.024.
7. 6 Australian tech startups off to the US. They’ve been selected for a major entrepreneur growth program in America.
8. A political tongue captured on video. South Australian premier Jay Weatherill tells federal energy Josh Frydenberg what he thinks of him.
9. That Spaceship fund. A millennial accountant reviews the new tech-focused super fund chasing his money.
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