Australian shares closed higher.
- ASX 200: 5,757.50 +27.09 +0.47%
- All Ordinaries: 5,804.00 +25.37 +0.44%
- AUD/USD: 0.7850 -0.0003 -0.04%
The local market cruised to a positive close for the second session in a row, buoyed by a strong showing on Wall Street where the S&P500 closed 1% higher.
Among the banks, the ANZ added almost 1.3% to $29.81 but the Commonwealth slipped by 0.07% to close at $81.25. The Bank of Queensland was up 1.35% to $12.73.
Santos was down 2% to $3.28 after announcing impairments of $US690 million due to lower oil prices.
HearMeOut rose 31% to $0.140 after the voice-based social media company announced its platform had been approved for Ford’s connected cars in the US.
1. Domino’s fails to hit profit guidance. Domino’s Pizza today posted a record full year underlying net profit after tax of $118.5 million, a 28.8% jump but below its own guidance of 32.5%. Also read: pizza workers were underpaid by hundreds of thousands of dollars at 15 stores. Domino’s shares fell 18.8% to close at $41.50.
2. Most ASX200 companies don’t have a clue about doing business in Asia. The big ASX-listed companies have an alarmingly low level of business capability in Asia.
3. Escaping to Singapore. 5 founders who have either escaped or expanded to Singapore for reasons ranging from cracking the Asian market to seeing leadership opportunities for women and taking advantage of excellent government initiatives.
4. Robots are coming to the finance department. Australia’s CFOs plan to automate.
5. Trust in the banks. ANZ Bank CEO Shayne Elliott says it’s going to take some time to regain it.
6. Where to now for interest rates? The RBA just said wage pressures will need to build before it starts hiking rates
7. A “no” result. Betting markets are increasingly pointing to a shock result in Australia’s vote on same-sex marriage.
8. Revenge is a dish best served on Twitter. Amber Heard is enjoying Barnaby Joyce’s citizenship problems.
9. A Sydney fintech that gives kids their own Visa card just raised $2.5 million of funding. Spriggy’s capital raising was led by Sydney’s Alium Capital, which has featured in several prominent startup funding rounds this year including Unlockd ($30.8 million), HealthEngine ($26.7 million) and Nitro ($US15 million).
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