After a two day rally, Australian investors have gotten an attack of the jitters ahead of tonight’s much anticipated jobs data out of the US, which has seen the local share market lose all momentum in afternoon trade. The ASX 200 has finished the day 1.2 per cent lower, with the financial and healthcare sectors proving to be the biggest drag on the market.
Today, the S&P/ASX 200 index closed 60 points lower to finish at 5,052.
Over the week the index gained 10 points.
The value of trades was $3.7 billion on volume of 584 million shares at the close of trade. The top three stocks by value were ANZ Banking Group
(ASX:ANZ), Commonwealth Bank of Australia
(ASX:CBA) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is down 43 points.
US Markets
Looking at Wall Street, US major indexes have fallen over the four trading days this week: The Dow Jones Industrial Average has lost 0.3 per cent. The S&P 500 Index has lost 0.4 per cent. The NASDAQ has slipped 1.3 per cent. The 100 Index has lost 0.8 per cent.
Economic news
The Australian Bureau of Statistics says retail sales figures for the month of August have increased 0.4 per cent, in line with economists’ expectations. Total retail spending was $24.4 billion for the month, up from $24.3 billion in July.
Company news Helloworld Limited
(ASX:HLO) has reiterated it will be launching in New Zealand in early 2016. HLO will consolidate a number of franchisees currently trading under the Harvey World Travel and United Travel brands and expand the network with the acquisition of up to 10 retail stores from Air New Zealand. Shares in Helloworld closed down 3.33 per cent at 29 cents.
Japara Healthcare Limited
(ASX:JHC) has expanded into the Queensland market with the acquisition of the Profke residential aged care portfolio.
APA Group
(ASX:APA) has received a warning from ACCC over its proposed acquisition of EnergyAustralia’s Iona Gas Plant.
Best and worst performers
All sectors were down, but the best of a bad bunch was Consumer Discretionaries losing 0.2 per cent to close at 1,793. The worst performing sector was Utilities, losing 2 per cent to close at 6,502 points.
The best performing stock in the S&P/ASX 200 was Liquefied Natural Gas, rising 5.22 per cent to close at $1.41. Shares in Crown Resorts and Transfield Services also closed higher.
The worst performing stock was CSR, dropping 5.78 per cent to close at $2.77. Shares in M2 Group and Syrah Resources also closed lower.
Commodities and the dollar
The price of gold is trading at $US1,111 an ounce, and is $36.40 lower over the week. Light crude is 35 cents lower at $US44.74 a barrel. The Australian dollar is buying 70.35 US cents and is up 0.22 of a cent over the week.
