Australian stocks opened the week marginally lower.
- ASX200: 5,945.70 -11.55 -0.19%
- All Ordinaries: 6,028.00 -10.26 -0.17%
- AUD/USD: 0.7558 -0.0006 -0.08%
The local market slipped with the banks the main drag.
The ANZ Bank was down 0.6% to $29.28 and the Bank of Queensland 1.1% to $12.64.
Investment platform Netwealth debuted on the ASX at $5.32, a 43% premium on the $3.70 list price.
1. Property prices stall. Data from CoreLogic shows price growth in Sydney flat last week.
2. Hit by the retail crunch. Baby Bunting downgrade profit forecast due to increased retail competition. Its shares dropped 5.6% to close at $1.41.
3. Foreigners buy around a quarter of all new apartments. The head of financial stability at the Reserve Bank of Australia, Jonathan Kearns, delivered a speech in Sydney.
4. One way to look at housing supply and demand. Researchers from the Australian National University (ANU) believe the nation already has a housing oversupply of up to 164,000 dwellings, including in the major capitals.
5. More signs of an Amazon launch. Amazon’s in-house brand AmazonBasics just showed up on the Australian site.
6. Big corporates should just ditch innovation labs. They just don’t work.
7. 5 ways to be more persuasive. Science-based tricks to get people to do what you want.
8. TECH 100: Nominations are open for the coolest people in Australian tech.