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

Retrieving a stuck kite. Aamir Qureshi/AFP/Getty Images

Australian stocks closed lower.

Today’s scoreboard:

  • ASX200: 5,841.20 -14.70 -0.25%
  • All Ordinaries: 5,940.00 -17.00 -0.29%
  • AUD/USD: 0.7877 +0.0019 +0.24%

A key drag on the local market was the Commonwealth Bank, which went ex-dividend, dropping 3% to close at $73.98.

Blood products company CSL was up 5% to $149.29 after increasing first half profit 35% to $US1.1 billion.

IAG shares were up 3.1% to $7.48 after posting a 23.5% rise in half year profit to $551 million.

Share registry Computershare closed at $17.29, up 4.8%, after lifting half year profit by 14% to $171.2 million.

Top stories:

1. The Myer CEO is out. A department store chain bleeding sales and under attack by disgruntled shareholders is looking for a new head. Myer shares surged higher by as much as 5% before closing at 5 $0.54, up 1.8%.

2. CBA bans crypto buying via credit. Australia’s largest retail bank announced it will no longer allow customers to use credit cards to buy virtual currencies.

3. Residential land prices going through the roof. According to latest HIA-CoreLogic Residential Land Report, the median vacant residential lot price surged by 6.5% in the September quarter of last year, hitting $267,368, up 10.9% on a year earlier.

4. Domino’s cuts its Australian growth forecast. But the pizza company says it’s on track to deliver a 20% lift in full year profit despite softer than expected sales in Australia. Domino’s shares close at $46.50, down 6%.

5. Mental health issues. Matt Berriman, co-founder of high-flying startup Unlockd, is stepping down as CEO to deal with bipolar disorder.

6. DroneShield has been recognised by NATO. Its DroneGun MKII product has been assigned a NATO Stock Number, allowing for any of the 29 NATO countries to purchase it off the shelf. Its shares added almost 7% to close at $0.23.

7. The 3 biggest frustrations of Australian job-seekers. Slow feedback, delayed decision-making from hiring managers and poor communication.

8. Don’t buy a Sydney house, retire early. This millennial plans to retire at 35 instead of owning a home in Sydney.

9. The Year of the Dog. The Feng Shui financial forecast for 2018.

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