ASX edges higher as jobless rate falls in line with expectations
Make us a preferred source
Make us a preferred source on Google
The news: The Australian sharemarket ended higher after the unemployment rate fell to 4%, in line with expectations, along with softer-than-expected US inflation data.
The numbers: The benchmark ASX 200 gained 0.44% to end at 7,749.7, with nine out of 11 sectors finishing in green.
The best performing sector was IT, up 2.14%, followed by healthcare (1.6%) and AREITs (1.22%). WiseTech gained 2.08% after Bell Potter analysts hiked their target price due to market opportunities in landside logistics and customs and compliance.
Air New Zealand ended 1% higher after it dismissed chief corporate affairs officer Mat Bolland as part of a wider review of costs.
Beach Energy finished 0.94% higher, paring losses earlier in the trading day, after announcing that it had delivered its first gas sale this week after successfully connecting its Enterprise gas field to the Otway gas plant.
The worst performing sector was energy, down 0.64%, followed by materials (-0.48%) and consumer staples (0.33%). Oil majors fell as global oil prices dipped after US crude stockpiles rose. Woodside (-0.86%), Santos (-0.4%) and Ampol (-0.86%) all fell.
The worst performing ASX 200 stock was ASX itself, down 8.01%, after the bourse operator flagged an increase in technology spend and capital expenditure.
Sigma Healthcare fell 4.15% following an announcement by the competition regulator that it had concerns with Sigma's proposed acquisition of Chemist Warehouse.
Qantas dropped 4.15% after announcing it would spend $211 million to buy the remaining stake that it did not own of TripADeal.
Elsewhere, Judo Bank fell 2.59% after appointing its new chief operating officer and chief risk officer.
The Australian dollar is lower, buying 66.45 US cents.
The context: Overnight will see US Treasury Secretary Janet Yellen speak at the Economic Club of New York.
Friday will see the Bank of Japan make its next monetary policy decision.
