Australian stocks lost ground at the start of a new trading week.
- ASX 200: 5,702.00 -22.59 -0.39%
- All Ordinaries: 5,763.80 -22.34 -0.39%
- AUD/USD: 0.7953 -0.0015 -0.19%
The local market coasted to a weak close, following North Korea’s nuclear weapons test at the weekend, but managed to just stay above the key 5700 point mark on the ASX200.
The major banks were the main drag. The Commonwealth was down 1.4% to $74.41 and the ANZ 0.6% to $29.40.
A string of companies are going ex-dividend this week, dampening the overall market.
Among companies going ex-dividend today: Super Retail, down 3.9% to $7.67; Nine Entertainment, down 4% to $1.31; and Amcor 2.9% to $15.70.
1. The latest GDP indicators were a little soft. company profits and inventories both undershot expectations in the June quarter, creating downside risks ahead of the release of the nation’s GDP report on Wednesday.
2. Australian job ads jump again. According to ANZ, total advertisements in August increased by 2% to 181,435 in seasonally adjusted terms, leaving them up 13.3% on the levels of a year earlier.
3. A boardroom clean-out at the Commonwealth Bank. Two directors, both audit committee members overseeing risk and compliance, are standing down. Also read: The CBA has to December to file a court defence to the money laundering scandal.
4. Bitcoins ATMs in Australia. A Stargroup/DigitalX joint venture will allow users to cash out Bitcoin to Australian dollars. Stargroup shares closed at $0.027, up 17.4%.
5. Ardent Leisure has brokered a peace with corporate raider Ariadne. The board of directors agreed to appoint two Ariadne nominees, Gary Hilton Weiss and Brad Richmond, heading off a vote at an extraordinary meeting of shareholders. Ardent shares closed at $1.93, down 1%.
6. Melbourne won’t pay for the Logies anymore. Victorians paid $1 million a year to host the Logies but now the funding has gone.
7. Cough app company ResApp is back. The company has been under pressure since a study into the app in the US came back with negative results earlier this month. Its shares were up 47% to $0.099.
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