AUSTRALIAN STOCKS SLUMP BUT END THE WEEK AHEAD: Here’s what you need to know

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AUSTRALIAN STOCKS SLUMP BUT END THE WEEK AHEAD: Here's what you need to know AUSTRALIAN STOCKS SLUMP BUT END THE WEEK AHEAD: Here’s what you need to know fiddle 300x169

Australian shares closed the session lower but ended the week
well ahead.

Today’s scoreboard:

  • ASX 200: 5,747.10 -32.11 -0.56%
  • All Ordinaries: 5,798.50 -28.75 -0.49%
  • AUD/USD: 0.7889 +0.0003 +0.04%

The ASX200 was almost 1% higher after a strong showing earlier in
the week.

Today the local market fell hard on opening, following a rout on
Wall Street where the S&P500 shed 1.5% overnight on local
political uncertainty and
the Barcelona terror attack.

Among the banks, Westpac lost 1.5% to close at $32.21, the NAB
1.3% to $30.87 and the Commonwealth just 0.5% to $79.09.

BHP fell 2% to $25.39 and Rio Tinto 0.6% to $63.19.

Treasury Wine Estates jumped 3.4% to $13.41, continuing its climb
after yesterday’s annual results showing a pay off for the company’s premium
wine strategy
.

Primary health Care was up 2.8% to $3.63 after posting full year
revenue of $1.658 billion and a loss of $516.9 million, mainly
due to non‐cash impairments of its medical centres.

Top Stories:

1.
The CBA money laundering case has links to potential terrorism
financing.
A federal parliamentary committee today heard from
Peter Clark, acting CEO of AUSTRAC.

2.
Kogan.com smashes full year profit.
Ruslan Kogan’s pure play
online sales machine Kogan.com posted full year after tax profit
of $3.74 million, a 362.3% rise on last year, outperforming its
prospectus forecast. Its shares closed 8.75% higher at $2.61.

3.
Back in front of a parliamentary inquiry.
The CEOs of the big
four banks.

4.
UBS:
The ASX reporting season major companies downgrading
earnings forecasts.

5.
Telstra’s mobile business is under fire.
And the telco is
launching its own budget label, Belong Mobile.

6.
The latest suspected dual citizen.
South Australian senator
Nick Xenophon says he won’t resign.
Also read
: Another Turnbull government minister has dual
citizenship.

7.
Wikileaks’ Julian Assange reportedly turned down a trove of
documents.
The WikiLeaks founder reportedly “gave excuse
after excuse” for refusing to publish a trove of documents
related to corruption within the Russian government.

8.
The surprisingly frugal habits of 8 billionaires.
Some of the
richest people on earth are incredibly frugal, each one with
their own penny-pinching habits.


AUSTRALIAN STOCKS SLUMP BUT END THE WEEK AHEAD: Here's what you need to know AUSTRALIAN STOCKS SLUMP BUT END THE WEEK AHEAD: Here’s what you need to know asx close aug 18 2017 300x169

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