>Josh Frydenberg to learn if he's ineligible to sit in the Australian parliament
theguardian.com/australia-news/2020/mar/17/josh-frydenberg-to-learn-if-hes-ineligible-to-sit-in-the-australian-parliament
>The federal treasurer, Josh Frydenberg, will learn on Tuesday if he is ineligible to sit in the Australian parliament, just days before he is expected to unveil the second round of stimulus to combat the economic effects of Covid-19.
>Frydenberg’s eligibility has been challenged in the federal court by a Kooyong constituent, Michael Staindl, who alleges he is disqualified by section 44(1) of the constitution because he is a citizen of Hungary, which Frydenberg denies.
>The federal court heard the challenge in February. Chief justice James Allsop, justices Susan Kenny and Alan Robertson are listed to give judgment on Tuesday at 2:15pm in Sydney and Melbourne.
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>Australian shares surge 5.8pc as BHP, CBA notch double digit gains
>To equities, and major brokers highlighted a number of top stocks as oversold in the recent market turmoil.
>BHP was called out by Morgan Stanley for its potential at current prices, after a 31 per cent de-rating so far this year. Shares in the miner surged 11.9 per cent to $28.21.
>Meanwhile, Rio Tinto put on 6.9 per cent to $83 and Fortescue lifted by 10.7 per cent to $10.69.
>In other high profile upgrades, three of the four major banks were upgraded by Jefferies – helping the broader sector higher by 9.2 per cent.
>Commonwealth led the charge, adding 13.3 per cent to $67.64 as Westpac gained 7.9 per cent to $17.25, ANZ rose by 11.8 per cent to $18.40 and NAB lifted by 6.7 per cent to $17.21.
>REITs were the only sector to finish in the red, down 2.4 per cent led by a 9.7 per cent drop in Charter Hall to $7.68 while Unibail Rodamco Westfield lost a further 22.8 per cent to close at $4.60 after flagging weakness in Europe from broad city closures earlier this week.
