Shares Higher on Jobs Report
THE share market was almost one per cent higher at noon, led by miner Rio Tinto and the major banks.
At 12:00 (AEDT), the benchmark S&P/ASX200 index was up 38.8 points, or 0.86 per cent, at 4552.2 while the broader All Ordinaries index had gained 39.1 points, or 0.86 per cent, at 4572.1.
On the Sydney Futures Exchange, the March share price index contract was 38 points higher at 4519 on volume of 14,294 contracts.
Austock securities senior client adviser Michael Heffernan said better-than-expected unemployment figures released and the financial sector had put a sparkle into the local market.
“The banks are really galloping at the moment and Rio is also up strongly,” Mr Heffernan said.
“We also had a disappointing result from Telstra today. Some had been expecting a dividend increase, and that didn’t occur.”
Tags: adviser, Asx200, banks, Contracts, Dividend Increase, Financial Sector, jobs, led, Local Market, Michael Heffernan, rio tinto, share market, Share Price Index, Shares, Sparkle, Sydney Futures Exchange, telstra, Unemployment Figures
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