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

Torsten Blackwood/AFP/Getty Images

Australian stocks closed marginally higher.

Today’s scoreboard:

  • ASX 200: 5,916.30 +10.70 +0.18%
  • All Ordinaries: 5,982.50 +9.81 +0.16%
  • AUD/USD: 0.7708 +0.0005 +0.06%

In late trade, the local market clawed back into positive territory and regained the 5900 mark on the ASX200.

Most of the major banks, underwater for most of the day, recovered with the ANZ up 0.6% to close at $32.85.

Fortescue Metals fell 3.5% to $4.87 after lowering its 2018 iron ore price guidance.

Top stories:

1. Australia’s housing market is set to face a big test. A flood of new homes hitting the market.

2. The ANZ Bank full years result. Bringing down costs for the first time since 1999. Also read: Slicing staff levels. ANZ shares fell 1.2% to $30.13.

3. Turnover in Australia’s housing market. According to data from CoreLogic, just 4.7% of dwellings changed hands in the year to September, the lowest percentage since the group began collating this data back in 2008.

4. Watch this space. ASIC flags legal action against Rio Tinto over Mozambique deal investment under investigation by US authorities.

5. The top 10 richest Australians under 40. Tech millionaires dominate the young rich list this year.

6. Qantas revenue jumps. Improved demand for airline seats on both domestic and international services. Its shares fell 1.4% to close at $6.31.

7. Blackmores sales start rising again. A a 28% rise in profit to $15.4 million for the first quarter of 2018. Its shares closed at $137.96, down just 0.5%.

8. Crown Resorts says it’s been unfairly smeared. It called allegations that it had tampered with poker machines “outrageous and unfounded”. Its shares added 1.68% to close at $11.48.

9. Constantly texting your friends? No wonder you feel anxious.

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