Australian Stock Report - Market Pulse

Midday Market Analysis: Jobs, Jobs, Jobs

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Publish date: Thu, 12 Apr 2012, 01:49 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

Midday Market Analysis: Jobs,Jobs,Jobs

The Aussie market is in positive territory heading into the after lunch session, with the XJO currently 30 points (+0.6%) above water, at 4275.

Every sector is in the green, with IT, energy and industrial plays leading the way.

In economic news, the Australian economic added 44,000 jobs in March, according to the Australian Bureau of Statistics.

The jobless rate remained unchanged at 5.2%, reducing the need for the Reserve Bank to cut interest rates again.

Economists had expected the jobless rate to edge higher to 5.3%, with just 6500 jobs added in March.

In company news, PanAust is up more than 5% after reaffirming its 2012 production targets.

Elsewhere, Ten Network is down 0.7% after announcing that its 1H FY12 net profit was down 70% to $14.8 million, compared to the previous corresponding period.

Around the region, Asian markets are mainly stronger; the Hang Seng is 0.2% stronger whilst the Nikkei is up 0.1%.

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Midday Market Analysis: Jobs, Jobs, Jobs is a post from: Australian Stock Report Market Pulse Blog

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