The ALL ORDINARIES (INDEXASX: XAO)(ASX: XAO) ended slightly higher on Monday, with modest gains across the board.
All Ordinaries: up 0.2% at 6,064 points
All Ordinaries Movers
- Reece Ltd (ASX: REH) – up 3.2%
- Santos Ltd (ASX: STO) – up 2.9%
- Netwealth Group Ltd (ASX: NWL) – up 5.1%
- Bellamy’s Australia Ltd (ASX: BAL) – up 5.3%
All Ordinaries Losers
- Afterpay Touch Group Ltd (ASX: APT) – down 6%
- BlueScope Steel Ltd (ASX: BSL) – down 1.3%
- Galaxy Resources Limited (ASX: GXY) – down 3.9%
Australian Investing News
Recently, S&P Dow Jones announced which companies would be added to, or removed from, the ASX 200 and ASX 300. Shares of Bellamy’s Australia entered Australia’s leading share market index, the ASX 200.
Meanwhile, Netwealth Group, the financial services and technology company, was amongst those to make it into the ASX 300.
Making waves around Aussie financial markets is the ongoing Royal Commission into the banks and financial services sector. In the spotlight today was Australia and New Zealand Banking Group
(ASX: ANZ).
ANZ’s head of home loans, William Ranken, said the bank did not independently check the expenses of applicants for loans which came via mortgage brokers. ANZ monitored the expenses claimed by applicants but only by comparing them against Australian averages.
According to Fairfax, ANZ gets nearly 75% of its loans from brokers. “Scalability, I think, presents operational difficulties,” Mr Ranken said.
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