Payroll jobs across Australia fall 0.4 per cent: Aus shares close 1.1% higher

Market Reports

by Ortenzia Borre

The Australian share market rose at the open, hitting above the 6000 benchmark, closing 1.1 per cent up at the end of today’s trade.

Sims (ASX:SGM) led the top 200 gains for the session and JB Hi-Fi (ASX:JBH) led the losses for the day.

At the closing bell the S&P/ASX 200 index closed 63 points higher to finish at 6,008.

Futures markets

Dow futures are suggesting a rise of 304 points.
S&P 500 futures are eyeing a lift of 26 points.
The Nasdaq futures are eyeing a gain of 9 points.
And the ASX200 futures are eyeing a 68 point rise tomorrow morning.

Local economic news

Payroll jobs across Australia fell by 0.4 per cent over the month to 22 August, according to figures released by the Australian Bureau of Statistics (ABS) today.

Bjorn Jarvis, head of Labour Statistics at the ABS, said: “Over the month to 22 August, payroll jobs fell by 2.0 per cent in Victoria while for the rest of Australia, payroll jobs rose 0.1 per cent.

Across Australia, payroll jobs in the Accommodation and food services and the Arts and recreation services industries have suffered the largest losses during the COVID-19 period.

Company news

Grocer giant Woolworths (ASX:WOW) has reassigned Natalie Davis from Head of New Zealand operations to the Woolworths (ASX:WOW) Supermarkets Managing Director post in Australia.

The incoming new Managing Director will pave the way for predecessor Claire Peters to oversee Woolworths’ (ASX:WOW)portfolio businesses including Big W and its wholesale division.

Zelira Therapeutics (ASX:ZLD) has launched an oral care subsidiary in the US.

Scentre Group (ASX:SCG) has collected $183 million of rent in August. It comes after the company saw their profit plummet due to the pandemic which saw an ugly rent battle play out in public when Mosaic Brands' (ASX:MOZ) retailers were locked out of their stores due to payment disputes.

Sydney Airport (ASX:SYD) has raised almost $2 billion, to strengthen its financial resilience in the current challenging pandemic circumstances.

Best and worst performers

The best-performing sector was Real Estate Investment Trusts, adding 1.6 per cent, while the worst-performing sector, and the only sector in the red, was Consumer Staples, shedding 0.1 per cent.

The best performing stock in the S&P/ASX 200 was Sims (ASX:SGM), rising 7.8 per cent to close at $8.48. Shares in Webjet (ASX:WEB) and Nufarm (ASX:NUF) followed.

The worst performing stock in the S&P/ASX 200 was JB Hi-Fi (ASX:JBH), dropping 2.8 per cent to close at $47.30. Shares in Sydney Airport (ASX:SYD) and Mineral Resources (ASX:MIN) followed.

Asian markets

All higher: Japan’s Nikkei has gained 0.7 per cent, Hong Kong’s Hang Seng has gained 0.6 per cent and the Shanghai Composite is 0.9 per cent higher.

Commodities and the dollar

Gold is trading at US$1,933 an ounce.
The iron ore price added 0.2 per cent to US$129.11.
Its futures are pointing to a fall of 0.8 per cent.
Light crude is US$0.75 down at US$39.84 a barrel.
One Australian dollar is buying 72.98 US cents.