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

World champion surfer John John Florence from Hawaii at Snapper Rocks ahead of the Quiksilver Pro Gold Coast. Jason Childs/Getty Images

Australian stocks closed the higher.

Today’s scoreboard:

  • ASX200: 5,941.60 +37.60 +0.64%
  • All Ordinaries: 6,044.00 +39.20 +0.65%
  • AUD/USD: 0.7923 +0.0018 +0.23%

The local market added to last week’s gains, with the banks carrying the market higher.

The NAB was 0.8% higher at $29.46 and the ANZ 0.7% to $28.05.

The main drag was Woodside Petroleum which came out of a trading half after a capital raising. The shares were down 7.8% to $28.63.

Other energy companies were higher, including Santos which added 2.5% to close at 5.17.

Top stories:

1. Solomon Lew is coming for Myer again. “Myer is now in genuine peril and we must act to save the company.” Myer shares lost 5.4% to close at $0.52.

2. Woodside Petroleum raises $1.57 billion. It’s part of $2.5 billion which will be used to buy a greater stake in the Scarborough gas field off Western Australia. Its shares dropped 7.8% to close $28.63.

3. GetSwift is out of its trading halt. The company told the ASX that PwC, which had been hired to review the company’s continuous disclosure compliance, has now completed the initial stage of its investigation. GetSwift shares fell 55% to close at $1.31.

4. Seek smashes its half-year revenue numbers. Seek lifted its half-year revenue by 27% to a record $620.3 million and profit by 21% to $102 million as the veteran online jobs site restructures to better identify the next big investment. Seek closed at $20.50, up 1.9%.

5. Domain posted a loss for its first stand alone result. Revenue increased 12.5% to $183.3 million. Ex significant items, underlying net profit after tax was down 8.1% to $24.7 million. Domain shares added 4.5% to close at $3.00.

6. Restrictions on Australian home lending are likely to continue this year. An economist explains.

7. The outlook for capital investment just got a little cloudier. The outlook for capital expenditure has cooled since the most recent earnings season in August, according to Credit Suisse’s equity analysts Hasan Tevfik and Peter Liu.

8. How to get people to do what you want. Research finds you’re probably trying to influence people completely the wrong way.

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