AUSTRALIAN STOCKS SLIP: Here's what you need to know

Sean McCarroll from Australia racing in the Downhill race at Crankworx Rotorua in 2016. Mead Norton/Getty Images

Australian stocks closed lower.

Today’s scoreboard:

  • ASX200: 6,048.60 -28.50 -0.47%
  • All Ordinaries: 165.90 -21.80 -0.35%
  • AUD/USD: 0.7966 0.0000 0.00%

The local market lost ground with the miners and banks leading the drop.

BHP fell 0.7% to $31.66 and energy producer Woodside Petroleum 1.9% to $33.82.

Among financials, Westpac fell 0.8% to $30.82 and the Commonwealth 0.7% to $80.58.

Top stories:

1. Bellamy’s upgraded its revenue and profit guidance. The infant formula maker’s turnaround plan is gaining traction. Its shares closed up almost 25% to $13.68. Blackmores and a2 Milk shares followed.

2. David Jones sales fall again. Its South African owner is thinking about a writedown on its $2.1 billion investment.

3. A bottle of red for $135,000. The buyer who paid $332,608 for a full set of Penfolds Grange is the restaurant group Merivale.

4. Rio Tinto just had a record iron ore quarter. Rio Tinto has hit its annual production forecasts after shipping a quarterly record of 90 million tonnes of iron ore from its Pilbara mines.

5. Up, up and away. 5 amazing jobs in Australia you can apply for right now.

6. Sydney house prices. Damien Boey, Research Analyst at Credit Suisse, is forecasting a likely fall of 5% in 2018.

7. The year ahead. JPMorgan’s complete guide to everything going on in Australian and global markets.

8. The next performance review. 22 things you should never say.

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