AUSTRALIAN STOCKS RALLY: Here's what you need to know

A life size dinosaur at Centennial Park in Sydney. Cameron Spencer/Getty Images

Australian stocks closed higher.

Today’s scoreboard:

  • ASX 200: 5,714.50 +44.78 +0.79%
  • All Ordinaries: 5,776.30 +42.46 +0.74%
  • AUD/USD: 0.7888 -0.0015 -0.19%

The local market regained the 5700 point level on the ASX200 index.

The big miners did most of the heavy lifting. Rio Tinto was up 1.7% to $67.84 and BHP 1.6% to $27.38.

Among the banks, the ANZ was 1.1% higher at $29.40 and the Commonwealth 0.5% to $75.80.

Ardent Leisure says its five centres in Houston, Texas, have been closed because of Hurricane Harvey. Its shares were flat at $1.93.

Qantas and Emirates extended their alliance by another five years. Qantas shares closed 1% higher at $5.72.

The local market

Top stories:

1. Investment looks like it’s turning the corner. According to the ABS, private-sector capital expenditure (CAPEX) rose by 0.8% to $28.275 billion in seasonally adjusted chain volume terms, topping forecasts for a smaller increase of 0.2%.

2. Harvey Norman’s profits up 29%. The Australian homeware and furniture chain books the benefit from the housing boom. But the results, including a reduced dividend, sent the shares down 7.7% to $4.09.

3. Oroton hits its earnings forecasts. the company says its underlying EBITDA for 2017 will be at the high-end of the previous guidance range of $2 million to $3 million. Its shares closed at $0.85, up 8.2%.

4. Lithium earnings. Orocobre announced a maiden profit of $US19.4 million ($A24.5 million). Its shares jumped 14.2% to $3.86.

5. A record profit for Webjet. Annual profit jumped 147% to $52.42 million as the travel agent grows its mainstream online sales and makes inroads into the business to business market. Webjet shares were up 4.5% to $11.91.

6. The one-armed robot bricklayer gets an iAward. The Fastbrick Robotics machine is among the winners of the awards from the Australian Information Industry Association.

7. James Fairfax’s art collection. 54 works collected by the businessman were put up for auction by Deutscher and Hackett in Sydney, raising $4 million more than the original estimate of $6 million.

8. Same-sex marriage. The Project’s send-up of this anti-gay marriage ad is a sign of how divisive this debate could become.

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