Business News

5 things you need to know today

1. Yesterday the S&P/ASX 200 Index had its biggest one-day gain since July 2017, closing up 76.9 points or 1.3% to 5805.1.

2. The financial sector, and in particular the big banks, helped boost the market, with the Commonwealth Bank rising 2.3% to $68.16, Westpac up 2.1% to $26.84 and ANZ up 1.8% to $25.66. 

3. It was good news on Wall Street as well overnight, with the S&P 500 and the Dow Jones both back into positive territory for 2018 after closing 1.6% and 1.8% higher, respectively.

4. Labor has proposed changes that would make it more difficult for individuals to claim tax deductions for travelling to overseas tax havens. 

5. Graduates from major Sydney universities are earning around $6,000 more than those from Melbourne universities four years after graduating, according to figures from the Graduate Outcomes Survey reported by The Sydney Morning Herald.

Published on: Wednesday, October 31, 2018

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