The S&P/ASX200 started Tuesday down, but finished higher by 12 points to close at 4,820.10. The ANZ job survey showed job ads on the internet was higher by 19.6% for February. Overall, total job ads are only 2.3% below the same time last year.
However, economist Warren Hogan has warned that quoting the internet job ad figures isn’t ideal. “Newspaper ads are a more reliable indicator than ads on the internet because people have to pay for them, or at least the cost is higher.”
Phillip Lowe from the Reserve Bank of Australia (RBA) has warned that the Australian economy could grow at a faster than average rate, which will fuel inflation. Read more here.
The Dow Jones Industrial Average was up by 11 points, finishing the session at 10,564.38. Wall Street has had the best twelve months rise since the great depression. In fact, the Dow is up over 60% since the same time last year.
In the UK, the FTSE was lower by 4 points, closing to 5,602.30. Strong oil prices drove stocks like Royal Dutch Shell [LON: RDSA] higher by 0.77%, but the major banks and miners dragged the index down.
The Nikkei closed at 10,567.65, lower by 18 points. Three companies will be added to the Nikkei 225 Index as of 2nd April, JX Holdings [T: 5020] and NKSJ Holdings [T: 8630] and Nisshin Steel Co [T:5407].
The three companies being removed are Nippon Oil Corp [T: 5001], Nippon Mining Holdings Inc [T: 5016] and Sompo Japan Inc [T: 8755].
The price of spot gold in Australian dollars is trading at $1,226.63 while in US Dollars it is trading at $1,121.45. The price of silver in Aussie dollars is $18.89 and in US Dollars it is $17.27.
A survey conducted among hedge fund managers shows that the US currency is the favorite for 57% of funds. But, the Australian Dollar and Brazilian real are distant seconds.
The Aussie dollar versus the US dollar is USD$0.9149, against the Japanese Yen JPY82.31
Crude Oil closed at USD$81.38.
For the biggest movers on the market yesterday click here…
That’s it for hump day. See you tomorrow.
Shae.
