Aust stocks close slightly higher

Aust stocks close slightly higher

By Elizabeth Redman

The Australian sharemarket closed slightly higher today in thin trade after a lift in Chinese imports ../../../1970/01/aust-stocks-close-slightly-higher/and_mixed_local_employment_data._At_the_4._15pm___a_class_.css"StrictlyAutoTagAnchor" href="../../../tag/aest/" title="View all articles about AEST here">AEST) official market close, the benchmark S&P/ASX200 index rose 11. 9 points, or 0. 22 per cent, to 5,464. 4 points, while the broader All Ordinaries index added 12. 1 points, or 0. 22 per cent, to 5,454. 3 points.

CMC Markets sales trader Betty Lam noted the better than expected increase in the total number of jobs in the economy, despite a lift in the unemployment rate. "An uptick in the participation rate also brought the unemployment rate to a psychologically uncomfortable level of 6 per cent," Ms Lam said. "Local shares lost some ground as investors digested the news.

In consumer discretionary stocks, Myer rose 1. 79 per cent to $2. 27, while rival David Jones retreated 0. 25 per cent to $3. 93. Navitas rallied 5. 97 per cent to $5. 15 after yesterday's sharp fall on news it had lost a major contract with Macquarie University.

Meanwhile, Telstra was flat at $5. 29 and Qantas lost 0. 82 per cent to $1. 21. CSR rose 3. 1 per cent to $3. 66 after saying it was "very encouraged" by an increase in building approvals. Transfield rose 2. 41 per cent to $1. 28 after inking a $270 million defence contract.

Whitehaven Coal was flat at $1. 45, while Newcrest lifted 3. 59 per cent to $11. 24. Atlas Iron fell 5. 34 per cent to 62c despite beating its full-year production guidance. ANZ fell 0. 06 per cent to $33. 16, while Commonwealth Bank rose 0. 07 per cent to $80. 85.

Read more here: Business Spectator

    

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