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

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Australian stocks closed marginally lower.

Today’s scoreboard:

  • ASX200: 5,984.30 -4.47 -0.07%
  • All Ordinaries: 6,066.70 -3.67 -0.06%
  • AUD/USD: 0.7610 +0.0008 +0.11%

The local market crawled to a flat close. The main weight holding the market down was BHP which dropped 2% to $27.38.

Among the banks, Westpac shed 0.88% to $27.38. Macquarie slipped below $100 to close at $99.50, down 0.7%.

Fatfish shares gained by more than half to close at $0.074 after putting $US1 million ($A1.28 million) of seed capital into Kryptos-X, an early stage online virtual currency exchange.

Mayne Pharma shares close at $0.61, down 2.4%, after announcing a slide in revenue over the first four months of the financial year.

Top stories:

1. High rollers from China are heading back to Australian casinos. Morgan Stanley analysts, who recently met with casino and junket operators in Macau, say the Chinese VIP market is in recovery.

2. The mystery of the missing $1 million from a managed fund. The Aurora Funds Management Limited says the money appears to have been taken from a bank account without “proper authority”.

3. Sydney fintech Waddle just secured a $50 million debt funding round. The online cash flow lender says it almost doubled its lending volume in the last financial year.

4. A Melbourne startup bringing mentoring online just raised $725,000. Mentorloop announced a $725,000 oversubscribed round from Blackbird Ventures, Rampersand and Tempus Capital.

5. Is blockchain is too risky to adopt? Mobile banker Peppermint Innovations thinks it is.

6. Slack has a new Head of Growth for the Asia Pacific. Arturo Arrarte, who formerly headed growth teams at Salesforce, KPMG and IBM, will be based at Slack’s Melbourne HQ.

7. INFOGRAPHIC: These are the bad habits Australian commuters hate the most.

8. Ants on the menu. Matt Moran’s new Barangaroo restaurant opens in December.

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