STOCKS GO NOWHERE: Here's what you need to know

A Crocodile floats across the pond surrounding the 18th green during the first round of the Alfred Dunhill Championsip in Malelane, South Africa. ( Richard Heathcote/Getty Images

It was a quiet trading session on the Australian market today which coasted to a flat close after last week’s record-breaking session which saw stocks rise 2.3%.

Here’s the scoreboard:

  • S&P ASX 200: 5,888.70 +11.23 (+0.19%)
  • All Ordinaries: 5,849.50 +13.99 (+0.24%)
  • AUD/USD: 0.7790 +0.0032 (+0.42%)

Wall Street closed firmer on Friday with the S&P 500 index closing up 0.4% to a record high.

On the local market, the banks were flat. Among the miners, Fortescue Metals was up 3.48% to $2.68, ahead of its results announcement tomorrow.

The top stories on Friday:

1. The fifth largest bank. Bendigo and Adelaide Bank shares were marked down after the regional bank announced its first half results. Cash profit was $217.9 million, up 10.9%, while statutory net profit was up nearly 26% to $227.3 million. Its shares closed down 4.45% to $13.74.

2. Patties Foods took a beating in the market after one of the company’s products, mixed frozen berries, was recalled after being linked to an outbreak of hepatitis. Its shares closed down 7.66% to $1.26.

3. REMINDER: Why employment and unemployment are both rising in Australia.

4. Bank moves. The ANZ Bank’s Philip Chronican has stepped down as CEO Australia.

Here’s the chart.

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