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

Jason Fisher, head mechanic at Gosford Classic Car Museum, drives a 1966 Amphicar 770 on Sydney Harbour. James D. Morgan/Getty Images

Australian stocks closed the session, and the week, higher.

Today’s scoreboard:

  • ASX200: 6,121.40 +31.30 +0.51%
  • All Ordinaries: 6,229.80 +31.00 +0.50%
  • AUD/USD: 0.8005 -0.0035 -0.44%

The local market lifted for the third session in a row, ending the week with the ASX200 index 1.1% higher.

The major banks, with the Commonwealth almost 1% higher at $80.79, and the big miners were all ahead.

Rising oil prices supported energy stocks. Woodside Petroleum added 2% to close at $34.24 and Santos 4.2% to $5.37.

Aristocrat Leisure shares were in a trading halt while the gaming machine group waited for a ruling from the Federal Court on whether some of machines were compliant with federal laws.

James Hardie was up 6.7% to $23.65 after the building materials company raised its full year profit guidance.

Top sources:

1. Turning $500 million into $0. Telstra’s Ooyala, the US-based business it thought would become a global platform to stream content to websites and smartphones. Telstra shares closed at $3.67, up 0.8%.

2. PIVOT TO POT: A former mining then crashed tech darling is getting into cannabis.

3. The Australian X factor. This is why Chinese companies are suddenly targeting Australian healthcare businesses.

4. The race to digital. Australian banks are hunting for deals and partnerships with fintechs.

5. The housing game. Property prices in these Australian suburbs will perform best in 2018.

6. Why Australia is now on the front line in the fight against malaria. The Gates Foundation CEO explains.

7. “It’s damaging everybody.” A crypto executive’s rant on the biggest threat to digital coins right now.

8. CHART. Here are the restrictions on foreign property buyers in Australia.

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