The week is, somewhat mercifully, over, and with stocks gaining back some ground.
Here’s the scoreboard:
- ASX200: 4,916.00, +52.00 (+1.07%)
- ASX All Ords: 4,969.60, +51.95 (+1.06%)
- AUD/USD: 0.7014, +0.0014 (+0.19%)
And here are the top stories:
1. The axe falls at Dick Smith. Around 180 jobs will go as the troubled electronics retailer closes its concession stores at David Jones department stores. Receivers Ferrier Hodgson announced the decision to shut the stores today, although David Jones says it will try to save around 22 of the positions affected.
2. ANZ’s head of international and institutional banking, Andrew Géczy, is leaving the bank.
3. Treasury goes nuts. Shares in Treasury Wine Estate rallied more than 15% after the company announced better-than-expected profit guidance to the market overnight, with strong performance in the Asian market the key driver.
4. Asian stocks rallied. After a horror reversal in late trade yesterday the Nikkei 225 made a spectacular comeback in Friday trade, following a stronger lead from European market and Wall Street.
5. We know more about Scott Morrison’s plans. The federal treasurer has been hitting the airwaves this week – here’s some of what we’ve learned about how he’s approaching his job in a more volatile world.
Here’s the chart for today’s ASX200: