Unemployment wavers with 77,000 new jobs in March: Aus shares trading 0.1% lower
Text-only (non-video) report.
The Australian sharemarket started its trading day on a negative note, slipping away from yesterday’s 13-month high.
The IT sector lost momentum on weak leads from US counterparts overnight, as Xero (ASX:XRO) and Zip Co (ASX:Z1P) dove into negative territory.
Mining players WhiteHaven Coal (ASX:WHC) and Regis Resources (ASX:RRL) have submerged into a sea of red, both shedding over 14 per cent by midday.
However, Oil explorers and iron ore players are fighting the tide, with shares in BHP Group, Rio Tinto and Fortescue Metal Group all making advances over 1.2 per cent by noon
At noon, the S&P/ASX 200 is 0.10 per cent or 7.00 points lower at 7016.10.
The SPI futures are pointing to a fall of 12 points.
Economic news
The Australian Bureau of Statistics (ABS) has revealed a 0.2 per cent fall in the unemployment rate to 5.6 per cent in March. The ABS has recorded over 71,000 new jobs in the month with an increased participation rate of 66.3 per cent. It is also worth noting that these figures could still change directions in April, after the removal of JobKeeper packages.
Best and worst performers
The best-performing sector is Energy, up 1.05 per cent. The worst-performing sector is Health Care, down 1.11 per cent.
The best-performing stock in the S&P/ASX 200 is Ampol (ASX:ALD), trading 5.69 per cent higher at $25.80. It is followed by shares in Nickel Mines (ASX:NIC) and Champion Iron (ASX:CIA).
The worst-performing stock in the S&P/ASX 200 is Whitehaven Coal (ASX:WHC), trading 13.55 per cent lower at $1.59. It is followed by shares in Regis Resources (ASX:RRL) and Resolute Mining (ASX:RSG).
Commodities and the dollar
Gold is trading at US$1735.72 an ounce.
Iron ore is 0.20 per cent higher at US$173.54 a ton.
Iron ore futures are pointing to a rise of 1.72 per cent.
One Australian dollar is buying 77.24 US cents.
Copyright 2021 – Finance News Network
Source: Finance News Network
