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

Sea Life Sydney Aquarium. James D. Morgan/Getty Images

Australian stocks closed the session marginally lower and the week slightly ahead.

Today’s scoreboard:

  • ASX200: 6,050.00 -4.70 -0.08%
  • All Ordinaries: 6,164.70 -4.10 -0.07%
  • AUD/USD: 0.8093 +0.0033 +0.41%

The local market closed the day behind but ended the week about 0.5% higher on the ASX200.

The major banks lost ground with the NAB down 0.4% to $29.095.

Rio Tinto was up 1% to $78.98 and BHP 0.5% to $30.85.

Gold miners were higher with Evolution mining up 3.7% to $2.80 and Northern Star 1.95% to $6.26.

Top stories:

1. Housing. Sydney and Melbourne are most at risk of a significant price correction.

2. Medical cannabis. ASX-listed MedLab just raised $24 million to fast track the commercialisation of treatments. Its shares added 10.3% to close at $1.12.

3. Shares suspended further. GetSwift denies claims it failed to update the market on losing big contracts.

4. gets into life insurance. The pure play online retailer has decided to sell life insurance in partnership with Greenstone Financial Services. Kogan shares were up 3.1% to $6.85.

5. NSW trains. A Sydney train driver reveals the key economic problem facing the state’s rail system.

6. Chris Brycki: cryptocurrency bust could be just what’s needed.

7. The new chair of FinTech Australia. Stuart Stoyan is the founder and CEO of Melbourne-based fintech MoneyPlace, which in 2015 became Australia’s second fully licensed marketplace lending platform.

8. Tidy up your LinkedIn profile. These are the most overused words in Australia.

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