Unemployment rate fell to 6.6% in December: ASX tracking 0.7% higher at noon

Market Reports

by Melissa Darmawan

The Australian share market shot up at the open and is now tracking 0.7 per cent higher at 6,815 or 45 points higher. On the futures market the SPI is suggesting a rise of 32 points. Zip shares (ASX:Z1P) are soaring after releasing their quarter figures showing their global customers grew by 97 per cent. Meanwhile shares in Super Retail (ASX:SUL) are down by 3 per cent.

Local economic news

The Australian Bureau of statistics have released figures showing the unemployment rate fell to 6.6 per cent in December as 50,000 new jobs were created.

Broker call

Macquarie rates Ansell (ASX:ANN) as an upgrade to neutral from underperform as the company is doing better than expected. The first half earnings per share is expected to be 20 per cent ahead of Macquarie's forecast this can be attributed to covid-19 related demand across several business units. Shares in Ansell (ASX:ANN) are currently trading 0.1 per cent lower at $36.63.

Company news

Cleanaway Waste Management (ASX:CWY) Chief Executive Officer Vik Bansal has decided to step down as part of a mutual agreement with the Board. Mark Chellew will take on additional duties as Executive Chair while a search for a permanent CEO replacement commences. The CFO will delay his retirement to help ease the transition. Shares in Cleanaway Waste Management (ASX:CWY) are trading 8.5 per cent lower at $2.38.

Best and worst performers

The best-performing sector is Infotech gaining 2.6 per cent while the sector trailing behind is industrials losing 0.3 per cent.

The best performing stock in the S&P/ASX 200 is Zipco (ASX:Z1P) rising 12.2 per cent to $6.71, followed by shares in Netwealth Group(ASX:NWL) and Afterpay (ASX:APT).

The worst performing stock in the S&P/ASX 200 is Cleanway Waste Management (ASX:CWY) shedding 8.5 per cent to $2.38, followed by shares in Super Retail (ASX:SUL) and Austal (ASX:ASB).

Commodities

Gold is trading at US$1,869 an ounce.
Iron ore has lost 0.5 per cent to US$170.55.
Futures are suggesting a fall of 0.9 per cent.
One Australian dollar is buying 77.69 US cents. 

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