Australian shares fall as mixed jobs data keeps September rate hike in play
(Updates to close) ASX 200 ends 0.7% lower Miners fall 1.5%, banks drop 0.8% NZ50 closes flat By Keshav SinghChundawat Sept 24 (Reuters) — Australian shares ended lower on Thursday, with broad-based losses outweighing gains in energy stocks, after a mixed jobs report did little to alter market expectations that the central bank will raise interest rates next week. The benchmark S&P/ASX 200 index fell 0.7% to 8,702, its lowest close in more than a week. Data showed net employment rose 39,500 in August from July, topping forecasts, while the jobless rate beat expectations and rose to a five-year high of 4.6%, but within a range that the Reserve Bank of Australia governor had said could help combat inflation. "This jobs report reinforces the view that the Australian labour market is cooling rather than cracking, which supports the RBA's inflation-fighting stance while keeping hopes of a soft landing alive," said Greg Smith, investment specialist at Generate Investment Management. Swaps imply a 95% chance the central bank will lift its cash rate by 25 basis points to 4.60% at its September 28-29 meeting. 0#AUDIRPR A single month's data is unlikely to convince the RBA that inflation ris
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8% NZ50 closes flat By Keshav SinghChundawat Sept 24 (Reuters) — Australian shares ended lower on Thursday, with broad-based losses outweighing gains in energy stocks, after a mixed jobs report did little to alter market expectations that the central bank will raise interest rates next week. 7% to 8,702, its lowest close in more than a week. 6%, but within a range that the Reserve Bank of Australia governor had said could help combat inflation.
"This jobs report reinforces the view that the Australian labour market is cooling rather than cracking, which supports the RBA's inflation-fighting stance while keeping hopes of a soft landing alive," said Greg Smith, investment specialist at Generate Investment Management. 60% at its September 28-29 meeting. 0#AUDIRPR A single month's data is unlikely to convince the RBA that inflation risks have faded, with the focus after September shifting to whether unemployment continues to rise and inflation moderates accordingly, Smith said. 5% on softer commodity prices.
7% after operations at its Escondida mine in Chile were suspended on Wednesday following the death of a worker in an accident. 3%, even as bullion prices were muted. 7%, respectively. 8%.
2% as Brent crude prices remained above $100 per barrel. 3% each. 83. com;)