AUSTRALIAN STOCKS RALLY: What you need to know

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Australian shares surged higher on the first day of a new calendar year.

Today’s scoreboard:

  • S&P ASX 200: 5,733.20 +67.41 +1.19%
  • All Ordinaries: 5,784.60 +65.46 +1.14%
  • AUD/USD: 0.7234 +0.0047 +0.65%

All sectors were in the green as ASX200 hit the 5700 point mark and a 19-month high.

The ANZ closed 1.7% higher at $30.94 after announcing the sale of its 20% stake in Shanghai Rural Commercial Bank for $1.838 billion.

BHP had added 1.6% to $25.46 while Rio Tinto was up 1.8% to $60.98 and Woodside Petroleum 1.25% to $31.55.

The top stories:

1. Another maker of infant formula has listed on the ASX. Shares in Bubs Australia Limited jumped by more than a third when it debuted in a backdoor listing today.

2. ANZ sells its stake in a Shanghai bank for $1.8 billion. The bank got about three times what it paid for its 20% in the Shanghai Rural Commercial Bank.

3. Capital city house price rises for 2016. Australian capital city house prices grew at the fastest pace in seven years in 2016, according to new research released by CoreLogic.

4. Hunter Hall shares crushed. The sale by ethical investor pioneer Peter Hall of his stake in Hunter Hall sent shares in the managed fund on a steep slide. The shares dipped by 30% before closing at $2.50, down 19%.

5. Airport chaos. Long queues at Virgin Australia’s Sydney domestic terminal.

6. What really happens when you get a brain freeze by eating icecream. Your brain isn’t freezing or even sensing cold.

7. Goldman Sachs’ tips on what US stocks to buy, and avoid, in 2017. For Goldman Sachs’ global investment research team, there’s likely to be two standout performers in 2017: financials and information technology.

8. Malcolm Turnbull’s rules for backyard cricket at Kirribilli House. “Hits into the harbour are automatic outs and the batsman has to retrieve the ball.”

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