InvestSMART

Aust stocks close flat

Local market little changed after poor employment data, positive earnings.
By · 13 Feb 2014
By ·
13 Feb 2014
comments Comments

The Australian stock market has closed little changed today after a string of positive earnings reports and weak labour force data.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index inched down 0.04% to 5,308.1 points, while the broader All Ordinaries index edged down 0.02% to 5,318.7 points.

Official data showed the unemployment rate increased to 6% in January, its highest level in a decade.

But IG chief market strategist Chris Weston said the market "wasn't overly affected" by the weak jobs report that caused a sell-off in the Australian dollar.

"It's flat days in Australia, while slight weakness is seen in Hong Kong, Japan and China," Mr Weston said.

"Traders are watching intently for full-year earnings from Rio Tinto after the bell."

In company earnings, Telstra lifted its first-half profit and interim dividend, while increases in interim profit were also reported by Transurban Group, Goodman Group, ASX and Webjet.

Google News
Follow us on Google News
Go to Google News, then click "Follow" button to add us.
Share this article and show your support
Free Membership
Free Membership
Staff Reporter
Staff Reporter
Keep on reading more articles from Staff Reporter. See more articles
Join the conversation
Join the conversation...
There are comments posted so far. Join the conversation, please login or Sign up.