Job stats curb market
Healthcare, energy the worst performers
THE Australian sharemarket has closed lower after positive November jobs data pared the chances of a February interest rate cut and took the gloss off local equities.
The benchmark S&P/ ASX200 index finished yesterday 18.3 points, or 0.27 per cent, lower at 6833.1 points, while the broader All Ordinaries slipped 14.4 points, or 0.21 per cent, to 6942.6 points. Only industrials, property trusts and utilities closed higher as the market gave up what was a broadly positive start.
Healthcare and energy were the worst performing sectors yesterday, down 1.1 per cent and 0.88 respectively, while tech stocks also receded throughout the day.
WiseTech Global was the only one of the WAAAX contingent to close higher, gaining 1.94 per cent to $24.75, while Afterpay, Appen, Altium, and Xero finished between 0.16 and 4.57 per cent lower.
The big four banks were all down, with ANZ edging up 0.56 per cent lower at $24.89, Commonwealth slipping 0.21 per cent to $81.73, NAB down 1.11 per cent to $25.02 and Westpac finishing 0.45 per cent lower at $24.39 after it was fined $9 million over poor financial advice.
Bendigo and Adelaide Bank was up 0.81 per cent, Bank of Queensland was up 0.68 per cent and Macquarie Group was up 1.63 per cent.
Among industrials, Transurban was up 1.04 per cent, Aurizon Holdings edged up 0.55 per cent and Qantas rose 1.09 per cent. Mining giant BHP was down 0.65 per cent to $39.79, Rio Tinto was up 0.02 per cent to $102.26 and Fortescue Metals was up 0.64 per cent to $10.95.
Elsewhere, Prime Media Group was down 5.41 per cent after the regional broadcaster’s shareholders rejected a takeover bid from Seven West Media. Seven West Media slipped 1.49 per cent after the ACCC said it was concerned the company’s plan to sell the Pacific Magazines stable to rival Bauer Media would reduce competition.
Seven also acquired a 14.3 per cent stake in Prime after the failed scheme meeting.
Mirvac stocks closed 0.65 per cent higher at $3.22 after announcing its consortium with John Holland will build an $800 million development around in Sydney’s Waterloo.