Australia’s unemployment rate unexpectedly rose to 3.7 per cent in January, from 3.5 per cent in December, after 11,500 people lost work, according to the Australian Bureau of Statistics (ABS). Economists had expected the unemployment rate to hold at 3.5 per cent and 20,000 job gains. Counter-intuitively to many, the share market liked the figure,…
Assessing profit results is the main game on the Australian market at present, and the upshot of Wednesday’s action was the benchmark S&P/ASX 200 giving up 78.7 points, or 1.1 per cent, to 7,352.2, while the broader All Ordinaries index retreated 69.5 points, or 0.9 per cent, to 7,559.1. Commonwealth Bank reported a record half-year…
Earnings season and the need to keep a weather eye on the US inflation print competed for influence on the Australian share market on Tuesday. By the close the benchmark S&P/ASX 200 gauge had added 13.1 points, or 0.2 per cent, to 7,430.9, while the broader All Ordinaries index gained 14.1 points, or 0.2 per…
The benchmark S&P/ASX200 index eased 15.9 points, or 0.2 per cent, on Monday, to a three-week low of 7,417.8. The broader All Ordinaries fell 16.6 points, also 0.2 per cent, to 7,614.5, as earnings season moved into full swing. Electronics retailer JB Hi-Fi reported an 8.6 per cent lift in sales to $5.3 billion for…
The local market dropped 0.8 per cent on Friday, taking the weekly loss to 1.7 per cent and the lowest level for three weeks. The biggest driver was a heavy retreat in coal stocks after thermal coal prices fell by more than 5 per cent, taking the price per tonne down 50 per cent from…
The local sharemarket copped its biggest fall in five weeks on Tuesday after the Reserve Bank of Australia (RBA) delivered a ninth consecutive rate rise, and for good measure, poured cold water on hopes of an imminent pause in its tightening cycle. RBA governor Philip Lowe warned that further increases will be needed in the…
The Australian share market eased on Monday ahead of today’s Reserve Bank of Australia meeting, with many in the market convinced that the central bank will hit borrowers with an interest rate hike of 0.4 per cent, although the most likely outcome of the meeting is still seen as a standard 0.25 per cent rise….
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