S&P/ASX 200 rallies 0.88% as job market recovery gains momentum

ASX up 0.64pc, dollar rises on jobs data
2020-12-17
Tata Altroz Turbo Petrol Spied – New Hyundai i20 DCT Automatic Rival
2020-12-17
Show all

S&P/ASX 200 rallies 0.88% as job market recovery gains momentum

S&P/ASX 200 (INDEXASX:XJO) surged 0.88% to 6,738 around 2 pm after a larger than expected lift in jobs across the country for November with 90,000 jobs added over the month.

Local shares were witnessing a broad-based improvement with nearly all sectors in the green.

Afterpay (ASX:APT) has again hit a new all-time high of $119.30 per share. The buy-now-pay-later stock has hit a new record high every day this week.

The big miners Fortescue Metals (ASX:FMG), BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) have all gained more than 1% as iron ore prices continue to rise.

Job market recovery continues

Employment is Australia rose by 90,000 in November (consensus: +40,000) after increasing by 180,400 jobs in October.

Full-time jobs across the country increased by 84,200 and part-time jobs rose by 5,800.

The unemployment rate has declined from 7% per cent to 6.8% in November (consensus: 7.0%).

Australia’s job market recovery continues but 942,100 Aussies are still jobless in November – just below the record high of 1 million people in July.

The labour market is yet to fully recover as total employment is still 143,200 below pre-pandemic levels in February.

Top gainers

Today’s top gainers on the ASX include Cobalt Blue Holdings Ltd (ASX:COB) (+8.70%), Fenix Resources Ltd (ASX:FEX) (+7.14%), Whitebark Energy Ltd (ASX:WBE) (+50.00%), Brookside Energy Ltd (ASX:BRK) (+42.86%), Cauldron Energy Ltd (ASX:CXU) (+8.57%), Engage:BDR Ltd (ASX:EN1) (+20.00%) and Southern Gold Limited (ASX:SAU) (+10.00%).

Proactive news headlines:

RPM Automotive Group on-track to complete proposed acquisition of Traralgon Tyre Services

RPM Automotive Group Ltd (ASX:RPM) is on-track to complete its proposed acquisition of Traralgon Tyre Services (TTS) after passing all necessary conditions as well as due diligence.

Orthocell completes pivotal step in TGA approval process for CelGro®

Orthocell Ltd (ASX:OCC) is moving towards Therapeutic Goods Administration (TGA) approval of its CelGro® collagen medical device for introduction into the Australian dental bone and tissue regeneration market.

Carnavale Resources sets stage for strong Kookynie Gold Project newsflow

Carnavale Resources Limited (ASX:CAV) (FRA:YBB) has set the stage for strong newsflow from the high-grade Kookynie Gold Project, around 60 kilometres south of Leonora in the West Australian Goldfields after completing soil sampling, an aeromagnetic survey and extensive aircore drilling.

Artemis Resources’ first drilling at Paterson Central next to Havieron reveals gold and copper potential

Artemis Resources Ltd (ASX:ARV) is highly encouraged by results from the first drilling at Paterson Central project that reveal the potential to host gold and copper mineralisation similar to that at the neighbouring Havieron project of Newcrest Mining Ltd (ASX:NCM) and Greatland Gold PLC (LON:GGP).

Imugene completes enrolment of first cohort of patients in Phase I clinical trial of checkpoint immunotherapy candidate PD1-Vaxx

Imugene Ltd (ASX:IMU) (OTCMKTS:IUGNF) has completed enrolment of the first cohort of patients in a Phase I clinical trial of its checkpoint immunotherapy candidate, PD1-Vaxx.

Cipherpoint in partnership with DataAssure to explore new opportunities in Hong Kong and Macau

Cipherpoint Ltd (ASX:CPT) has entered into a new partnership with Hong Kong-based integrator and solutions provider DataAssure to deliver enhanced protection for sensitive enterprise data in large enterprises in Hong Kong and Macau.

XTEK signs MoU with Milrem Robotics to become its unmanned ground vehicle representative in Australia and New Zealand

XTEK Limited (ASX:XTE) has signed a Memorandum of Understanding (MOU) with leading European robotics and autonomous systems developer, Milrem Robotics, to act as Milrem’s unmanned ground vehicle (UGV) representative in Australian and New Zealand.

Brookside Energy sells first oil from Mitchell Well as part of Orion Project JV

Brookside Energy Ltd (ASX:BRK) and Stonehorse Energy Ltd (ASX:SHE) have sold the first load of oil (169 barrels) on December 2, 2020, from the Mitchell 12-1 well, within Brookside’s Jewell Drilling Spacing Unit (DSU) in the SWISH AOI in the southern part of the SCOOP Play.

Euro Manganese closes second tranche of private placement to raise gross proceeds of C$5.339 million

Euro Manganese Inc.(ASX:EMN) (CVE:EMN) (FRA:E06) has closed the second tranche of its private placement following shareholder approval at a special meeting held on December 10, 2020.

PolarX assays extend Zackly East mineralisation with intersection of 5 g/t gold and 3.15% copper

PolarX Ltd (ASX:PXX) has received more high-grade gold and copper assays which extend mineralisation by a further 200 metres at the Zackly East prospect within its Alaska Range project.

Element 25 and OM Holdings extend manganese offtake exclusivity period for Butcherbird Project

Element 25 Ltd (ASX:E25) (FRA:QFP) and OM Holdings Ltd‘s (ASX:OMH) subsidiary OM Materials (S) Pte Ltd have agreed to an extension to the manganese ore offtake exclusivity period for its Butcherbird Manganese Project in Western Australia.

Lithium Australia’s subsidiary Envirostream Australia completes harvest of micronutrient field trial

Lithium Australia NL’s (ASX:LIT) (FRA:3MW) 90%-owned subsidiary Envirostream Australia Pty Ltd has completed field activities associated with the testing of zinc and manganese – derived from its recycling of alkaline batteries – as a source of fertiliser micronutrients.

Rimfire awaits results from 100%-owned The Valley with more drilling upcoming

Rimfire Pacific Mining NL (ASX:RIM) is awaiting reverse circulation (RC) drill results from 100%-owned ‘The Valley’ target within the prolific Lachlan Fold Belt of central NSW.

Leave a Reply

Your email address will not be published. Required fields are marked *