Australian stocks closed higher.
- ASX 200: 5,821.40 +17.39 +0.30%
- All Ordinaries: 5,854.40 +14.48 +0.25%
- AUD/USD: 0.7508 +0.0010 +0.13%
The local market picked up, keeping its nose above yesterday’s close and breaking a four-day downward run, despite slippage on Wall Street where the S&P500 closed down 0.2%.
The modest gains were driven by the banks. This was largely offset by falls among the miners.
The ANZ Bank was 1.2% higher at $31.54 and the NAB 0.8% to $32.75.
BHP dropped 1.1% to $23.65 and Fortescue Metals 1.1% to $5.18.
The top stories:
2. Amazon still has some huge challenges to overcome to build its business in Australia. First it has to find a fulfillment centre and that’s not as easy as it sounds.
3. The number of delinquent housing loans have fallen unexpectedly. Standard & Poor’s detected a sudden fall in problem mortgages in February, a month when delinquencies usually rise.
4. Spending levels are accelerating again. The value of credit and debit card transactions processed through Commonwealth Bank terminals jumped by 0.6%, the largest increase in 15 months.
5. Virgin Australia switches on its inflight wifi. The airline kicked off a three-month testing trial on a single Boeing 737-800 plane today.
6. James Packer sells his stake in RatPac. This is the film business he co-founded with Hollywood producer and director, Brett Ratner, four years ago.
8. Choosing the gender of a baby. The National Health and Medical Research Council (NHMRC) today announced that “sex-selection for non-medical purposes is not currently supported” in Australia.
9. Stealing your banking details and withdrawing money. A terrifying flashlight app for Android phones.