Australian Stock Market Report – Afternoon July 10, 2014
By Juliana Roadley, CommSec Market Analyst | July 10, 2014 7:45 PM EST
End of Day report (4.20pm)
After a solid night in US Aussie market lifted from the open of trade and by the close ended higher. The All ordinaries Index added 12.1points to 5454.3 points with most sectors closing higher.
The banking sector was lifeless today, while the retail and health care sectors stayed in the red throughout the day. Woolworths (WOW) finished down 0.17% while Coca-Cola Amatil Limited (CCL) fell over 1.25% its 3rd straight day in the red.
A man is reflected on an electronic board showing market indices of the (top-bottom) NASDAQ, Hong Kong Hang Seng Index, SSE Composite Index, and Korea Composite Stock Price Index outside a brokerage in Tokyo June 25, 2014. Asian shares were on the back foot early on Wednesday, taking their cue from Wall Street as the deepening crisis in Iraq and a report that the U.S. could be loosening restrictions on crude exports triggered a rally in oil prices. REUTERS/Yuya Shino (JAPAN - Tags: BUSINESS)
Today the Australian June job data was released but it had minimal impact on the market but did push the Aussie dollar lower.
Employment rose by 15,900 in June after falling by a revised 5,100 in May (previously reported as a 4,800 fall in jobs). Full-time jobs fell by 3,800 in June after rising by 22,200 in May. Part-time jobs rose by 19,700 in June after falling by 27,200 in May.
A total of 89,900 new full-time jobs have been created in the first six months of 2014 - marking the best start to a calendar year in four years.
Jobless rate lifts, more looking for work: The unemployment rate lifted from 5.9% to 6.0% in June. The participation rate rose from 64.6% to 64.7%.
Hours worked rose by 0.9% in June after rising by 2.1% in May. Hours worked are up 2.1% over the year.
In company news.
Fairfax Media (FXJ) announced it had purchased online property site, All Homes for around $10Million. FXJ shares lifted 3.3% to $0.94.
Gold miner Newcrest (NCM) held on to early gains helped by the restructure of its Executive team, and the fact that the US$ gold price continued to lift in Asian trade today now at US$1,331/oz. NCM up 3.6% and Regis Resources Limited (RRL) up 4%.
Also today we heard from Kingsgate Consolidated Limited (KCN) told the market that it had appointed former NCM executive Geoff Day as its new CEO, Kingsgate share price rose 3.26%.
Australia's largest listed grain handler GrainCorp (GNC) today announces it has taken a 10% equity stake in leading Egyptian flour miller called Five Star Flour Mills for around $10Million. GNC shares lifted throughout the session and closed at $8.53 up 0.83%
Transfield Services (TSE) today announced it had secured a 6 year Australian Defence Facilities contract, this contract comes with the option to extend for another 4 years- extending the decade long partnership that TSE has with Defence in providing direct support services across the Navy, Army and Air Force. This contract is expected to have an annualised value of $270Million. Today TSE shares started weaker but closed up 2.4%
Navitas (NVT) the education services provider, today saw its share price rebounding today after yesterday's falls (down near 30%) on the news it lost a major contract with Macquarie University, but today the shares up 5.97%
China's trade balance narrowed from a surplus of US$35.92 billion in May to a surplus of US$31.06 billion in June. Exports were up by 7.2 per cent over the year compared with a rise of 7.0 per cent in May while imports were up by 5.5 per cent after a fall of 1.6 per cent in May. Economists had tipped a 10.4 per cent annual rise in exports, 6.0 per cent rise in imports and trade surplus of $36.95 billion in June.
The Aussie dollar lifted in overnight trade but has fallen back after the job numbers, now at AUD/USD 0.9394
More from IBT Markets:
Follow us on Facebook
Follow us on Twitter
Subscribe to get this delivered to your inbox daily
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- South Australia OKs $800M Copper, Gold & Iron Ore Mine on Prime Agri Land in Yorke Peninsula
- Australian Stock Market Report –Midday July 30, 2014
- Shanghai Stock Exchange Will Not Extend Trading Hours
- Long Beach Real Estate Market Is Pricing Out Home Buyers with Limited Budget
- Australian Stock Market Report –Afternoon July 30, 2014
- Samsung Galaxy S5 Alpha Leaks Online: Release Date, Five Features to Wait for New Smart Phone
- Freshly Leaked Apple iPad Air 2 Cases Confirm Touch ID Sensor; Release Date, Limited Specs and Price Listed
- Photos of Motorola Moto X+1 Prototype and Specs Leak Online, Release Date, Four Fresh Features Revealed
- Sony Xperia Z3: Release Date, Five Features to Expect from New Android Smart Phone
- Moto X Android 4.4.4 KitKat Update Guide: Schedule and How to Install
- Top Surprising Features Of iOS 8
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date