AUSTRALIAN STOCKS UP 2% IN A WEEK: What you need to know

Photo: Mark Metcalfe/ Getty Images.

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

Today’s scoreboard:

  • S&P ASX 200: 5,560.60 +16.96 +0.31%
  • All Ordinaries: 5,615.80 +16.84 +0.30%
  • AUD/USD: 0.7465 +0.0002 +0.03%

The local market closed its fourth positive session in a row, pushing the ASX200 ahead by more than 2% over the week.

Investors were buoyed by Wall Street where the S&P 500 index rose overnight by 0.2% to record highs.

The banks added weight again with the ANZ up 1.3% to $29.92 and the NAB 1.2% to $29.69.

Energy stocks were ahead with Woodside Petroleum up 2.3% to $30.59

Sirtex Medical fell hard after the biotech warned of lower sales growth for its cancer treatment. Its shares closed down 37% to $16.00.

The top stories:

1. Australian stocks are on track for a better-than-usual December. The Santa rally appears to have started.

2. The ATO has revealed which tech giants had a zero tax bill. The Australian Taxation Office has published the tax bills for almost 2000 large corporations for the 2014-15 financial year.

3. Gina Rinehart gets the giant S. Kidman & Co cattle station. The billionaire mining magnate will get control of most the land in a deal which sees the holding split to isolate an area with national security issues.

4. Former AFL player’s startup hits the ASX. Retired Brisbane and Melbourne player Joel Macdonald has raised $5 million through the IPO for his logistics software company GetSwift. The 20 cent shares hit f high of 32 cents before settling at 29 cents, a 45% premium.

5. Like Minded Bitches Drinking Wine. The network you need to know about if you’re a female entrepreneur looking for support from the startup community.

6. Reports that a cap has been put on ATM withdrawals in Macau. Shares in billionaire James Packer’s Crown Resorts slide. They closed down 5.3% at $11.40.

7. Why this ASX-listed business asks interviewees if they would load a dishwasher. According to OFX, an Australian online foreign exchange and payments company, hiring the right people is one way to foster the “startup mentality”.

8. Australia’s one-armed bricklaying robot has just raised $8 million. A major Australian ethical investment manager, Hunter Hall, made a cornerstone investment in Fastbrick Robotics. Fastbrick shares gained 26% to close at $0.11.

9. Here’s how Westpac is saving on the salaries of its senior executives. Westpac today gave details on how Australia’s oldest bank is cutting away at pay.

10. Business lessons from the masterminds who built and ran huge criminal empires. Today’s modern business leader can pick up a few tips on strategy by studying big criminal organisations.

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