AUSTRALIAN STOCKS SURGE AGAIN: Here's what you need to know

Guillermo Legaria/AFP/Getty Images

Australian shares closed higher, breaking through the key 5800 mark on the ASX200.

Today’s scoreboard:

  • ASX 200: 5,818.10 +62.40 +1.08%
  • All Ordinaries: 5,855.90 +59.83 +1.03%
  • AUD/USD 0.7664 +0.0024 +0.31%

The local market took off for the second session in a row, backed by strong bank and mining shares, adding to yesterday’s 0.73% rise.

Oil and iron ore prices were higher overnight, helping to push BHP 2.5% higher to $23.4, Rio Tinto 3.3% to $63.39 and Fortescue Metals 2.7% to $5.21.

Among the banks, Westpac added 2% to $30.97 and the ANZ 2.3% to $29.02.

REA, the owner of realestate.com.au, says profits could be down $180 million this financial year because of a weak market in Asia. Its shares fell 0.7% to close at $$67.45.

Top stories:

1. Anchorage Capital takes control of Slater and Gordon. The law firm has closed a deal with its lenders. Its shares fell 4.3% to $0.088.

2. The Australian dollar at the mercy of central banks. ANZ’s team of currency strategists argue that the relative calm of the Australian dollar is unlikely to last.

3. Sex offence charge against Cardinal George Pell. He says he will be back in Australia to have his day in court and vigorously defend himself.

4. Another indicator that the jobs market is strengthening. A chart from Callam Pickering, economist at jobs website Indeed.

5. New home sales rose again. Australian new home sales made back-to-back gains in May.

6. Job interview questions from 28 Australian CEOs. Most CEOs have at least one go-to interview question that they believe reveals everything they need to know.

7. The take-up of fintech services is accelerating. Australians like their fintech, with adoption rates for new ways of managing their finances doubling in 18 months.

8. WATCH: This is the trailer for a new movie about 3 Australian startup superstars.

9. Virgin lounges are now admitting Qantas frequent flyers. Virgin Australia, until the end of August, is allowing premium tier Qantas members to also access Virgin lounges.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.