Australian Stock Market Report

Australian stock market closing report for Monday 06 June 2016

In Friday’s session the US major averages were slightly softer with the tech heavy NASDAQ demonstrating the most weakness

The May Jobless Claims came in shockingly below consensus which saw the greenback fall 1.61% and commodity related stock move significantly to the upside.

This created multiple positive leads for the Australian stock market in today’s trading

The ASX 200 benchmark close higher by 0.8% or 41 points to 5360

The daily trading range was 57 points with the high of the session at 5374 and the low the session of 5317

Market breath edged into the positive with 101 advancing stocks versus 81 declining stocks and 18 stocks unchanged

The All Ords Gold Index followed the Gold futures contract higher to close significantly to the upside 11.85%

Resolute Mining closed up 17.5% to $1.14, Saint Barbara closed higher 15.3% to $3.02, Northern Star Resources was up 14.4% to $4.85, and Regis Resources was higher 13.6% to $3.35

The Metals and Mining sector closed up 5.54%

With Evolution Mining higher by 13.4% to $2.28, Metals X was up 13% to $1.17, and Newcrest Mining was higher 11.6% to $22.06

The Materials sector was higher by 3.8%, with Independence Group up 11.4% to $3.02, Saracen Minerals Holdings up 10% to $1.26 and South 32 higher by 5.4% to $1.55

The ASX Financial sector was weaker than the overall market closing higher 0.34%

The big four banks were mixed with ANZ down 0.5% or $.13 to $24.96, the Commonwealth Bank was up 1.1% or $.85 to $76.60 National Australia Bank was up 0.5% or $.14 to $26.62 and Westpac was higher by 1% or $.30 to $30.26

The Consumer Discretionary sector closed flat but slightly lower -0.07%

The weakness in the sector came from News Corp B down 1.34% to $16.88, Myer Holdings down 1.3% to $1.14 and Crown down 1.1% to $11.75

In economic news

The ANZ Australian job ads for May were released

Indicating that the total job ads on a month over a month basis jumped 2.4% and on a year over year basis rose a sharp 9.1%

The number of Internet based ads jumped 2.6% while the number of newspaper ads fell 12.6% in May

ANZ head of Australian economics Felicity Emmett said, after six months of broadly flat job ads, the strong rise in ads in May is encouraging and despite some ongoing headwinds the economy is tracking along quite well and the transition to non-mining activity is occurring.

The five most active stocks were Fortescue Metals with the volume of 21.29 million, Mirvac Group with 20.73 million, Alumina with 18.81 million, Telstra Corporation with 18.38 million and South 32 with 15.59 million shares changing hands

The five best performers of the ASX 200 were Liquefied Natural Gas up 16.9%, Saint Barbara up 15.3%, Northern Star Resources up 14.4%, Regis Resources up 13.6% and Evolution Mining up 13.4%

The five worst performers were Austal down 2.3%, Insurance Australia down 2.2%, Seven Group Holdings down 2.2%, Caltex Australia down 2% and Estia Health down 1.9%

This has been the Australian stock market closing report for Monday, 6 June 2016 and I’ve been your host Aaron Furst, I’ll see you again next time

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