AUSTRALIAN STOCKS ON HOLD: Here's what you need to know

Children leap off the top of the famous Big Red Sand dune at sunrise on the final day of the The Birdsville Big Red Bash, a remote music festival. Brook Mitchell/Getty Images

Australian shares closed marginally lower.

Today’s scoreboard:

  • ASX 200: 5,758.80 -4.45 (-0.08%)
  • All Ordinaries: 5,797.50 -3.45 (-0.06%)
  • AUD/USD: 0.7597 -0.0006 (-0.08%)

The banks kept a lid on the local market with Westpac falling 0.9% to $30.84 and the Commonwealth Bank dropping 0.65% to $83.10.

Among the miners, BHP had its nose above water, up 0.83% to $24.35 but Rio Tinto was down 1.23% to $64.40.

Flight Centre fell as much as 2.6%, but climbed back to finish 1.43% lower at $43.50. Those moves came after a 10% rise yesterday, following a positive market update on profit expectations.

Blood products group CSL was up 1.67% to $137.25.

Top stories:

1. Another monster trade surplus. The May number was helped by a bounce in exports as supply disruptions to Queensland’s coal industry in April eased.

2. Chinese investors buy $24 billion of Australian real estate each year. Around the world they spend $133.7 billion.

3. Annualised subscription revenue grew 292% growth. Australian-origin software company LiveTiles is having a good year.

4. The new Coke won’t be on the shelves. The Woolworths decision on the “No Sugar” Coca-Cola is all about market saturation of sugar-free drinks. Shares in Coca-Cola Amatil closed 3.58% lower after the announcement.

5. No hitches in tax returns. The ATO website went down, yet again.

6. A $50 million VC fund. The South Australian government has formally awarded the right to operate its venture capital fund to Blue Sky Ventures.

7. Two Australians were held at immigration detention centres by mistake. One was taken to Christmas Island and the other detained onshore.

8. A Sydney anti-fraud fintech just landed $2 million. Secure payments fintech EFTsure says the series A round was led by venture capital firm Our Innovation Fund.

9. PHOTOS: A first look inside PwC’s new Barangaroo offices designed for just clients.

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