AUSTRALIAN STOCKS TAKE A HIT: Here's what you need to know

Jean-Francois Monier/AFP/Getty Images

Australian stocks closed lower.

Today’s scoreboard:

  • ASX200: 6,022.80 -52.60 -0.87%
  • All Ordinaries: 6,135.30 -52.30 -0.85%
  • AUD/USD: 0.8074 -0.0019 -0.23%

The local market followed Wall Street lower, where the S&P500 lost 0.7% overnight, with all sectors in the red.

Village Roadshow was down 10.7% to $3.67 after reporting “challenging trading” in its theme parks and cinemas.

The major banks were lower with NAB shedding 0.6% to $29.07.

Among the miners, BHP dropped 1.2% to $30.34 and Woodside Petroleum 2.2% to $33.37

Aurora Labs, announcing a deal to supply a 3D metal printer with the CSIRO, Australia’s peak science body, was 6.4% higher at $0.905.

Applydirect was up 9% to $0.12 after the the recruitment technology and digital marketing business announced it would participate in Google’s Cloud Job Discovery beta program.

Fintech payments startup Zip Co continued its climb, adding 6.4% to close at $1.235, adding to its 22% jump yesterday on better than expected December quarter revenue.

Top stories:
1. GetSwift calls in PwC. The technology company, whose shares were suspended following reports of undisclosed contract issues, has hired the professional services firm to review its continuous disclosure compliance.

2. A federal corruption commission. Labor leader Bill Shorten at the National Press Club.

3. Profits fall at Navitas profits dive. After tax profit fell 53.6% to $24.7 million for the six months to December. Revenue was down 4.6% to $456.7 million. Navitas shares fell 9.3% to $4.75.

4. Matt Comyn’s challenges. The market is generally positive about his appointment as CEO of the Commonwealth but the banker has some tough work ahead.

5. Fortescue’s iron ore production costs hit a record low. The relentless drive on costs continues at billionaire Andrew Forrest’s pure play iron ore miner. Fortescue shares closed at $5.07, down 0.39%.

6. A rare super red blue Moon. Australians will have the best view.

7. US Marines confirm they will use DroneShield in military exercises. The anti-drone gun will be used next month.

8. CHART: The performance of major asset classes in 2018.

9. John Winning: The importance of giving and being passionate about what you do.

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