Payroll jobs decreased 5.5% in the fortnight to 2 Jan: ASX closed 2% higher

Market Reports

by Rachael Jones

Australia’s sharemarket pushed higher as the consumer discretionary sector gained 2 per cent. The S&P/ASX 200 index finished 80 points up or 1.2 per cent higher at 6,743. Shares in Domino’s Pizza Enterprises (ASX:DMP).did well today as its reported a shift towards digital delivery will continue in 2021. Shares in Worley (ASX:WOR) dropped almost 3 per cent.

Futures markets

Dow futures are suggesting a rise of 135 points.
S&P 500 futures are eyeing a lift of 20 points.
The Nasdaq futures are eyeing a rise of 117 points.
And the ASX200 futures are eyeing a riseof 84 points tomorrow morning.



Economic news

Nationally, payroll jobs fell 5.5 per cent across the fortnight to 2 January 2021 and were 6.1 per cent below mid-March 2020.

Company news

Macquarie Group (ASX:MQG) has appointed Rebecca McGrath and Mike Roche as independent directors to the Macquarie Bank board. The appointments are effective from January 20. Rebecca McGrath is currently chairman of OZ Minerals and a non-executive director of industrial property owner Goodman Group. Mike Roche is a non-executive director of Wesfarmers and previously worked at Deutsche Bank. Shares in Macquarie Group (ASX:MQG) closed 1.6 per cent higher at $138.83.

BINGO (ASX:BIN) has received an unsolicited, highly conditional, non-binding, indicative proposal from funds advised by CPE Capital on behalf of CPEC and its potential co-investors which include Macquarie Infrastructure and Real Assets for the acquisition of BINGO by way of scheme of arrangement at $3.50 per share.

Rio Tinto (ASX:RIO) report Pilbara iron ore achieved a strong performance across the network in 2020, despite impacts from Cyclone Damien in the first quarter and COVID-19 disruptions which also resulted in the deferral of maintenance to the second half. Shipments were at 88.9 million, up 2 per cent on the fourth quarter in 2019.

HUB24 (ASX:HUB) has delivered a strong first half for FY21 with funds under administration 38.7 per cent quarter-on-quarter to $22 billion in the December quarter.

Best and worst performers

The best-performing sector is consumer discretionary gaining 2 per cent while the sector trailing behind was utilities dropping 0.1 per cent.

The best performing stock in the S&P/ASX 200 is Bingo Industries (ASX:BIN) rising 20.4 per cent to $3.30, followed by shares in Nufarm (ASX:NUF) and Domino’s Pizza Enterprises (ASX:DMP).

The worst performing stock in the S&P/ASX 200 is Worley (ASX:WOR) dropping 2.8 per cent to $12.30 , followed by shares in Bluescope Steel (ASX:BSL) and REA Group (ASX:REA).

Asian markets

Mixed: Japan’s Nikkei is tracking 1.5 per cent higher, Hong Kong’s Hang Seng is 3.1 per cent higher and the Shanghai Composite has lost 0.1 per cent.

Commodities

Gold is trading at US$1,841 an ounce.
Iron ore has gained 0.2 per cent at $174.07.
Futures are suggesting a fall of 0.6 per cent.
Light crude is 16 cents higher at $50.15.
One Australian dollar is buying 77.18 US cents.