Closing Bell: ASX 200 sinks, jobless rate hits a 48-year low
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Despite creeping up earlier in the week the ASX 200 managed to sink down 0.24% today, with eight out of eleven sectors lower.
The laggards were led by Tech which dropped 2.43% and the only three sectors in the green were energy, up 1.33%, health care, up 1.11% and consumer staples, up 0.18%.
Our labour force data for July was released and the unemployment rate has fallen from 3.5% in June to 3.4% in July – that’s the lowest since August 1974.
And it’s possible the jobless rate could fall to 3%, so the tight job market will continue to place upward pressure on wage costs and complicate inflation fighting by the reserve bank, CBA chief economist Craig James says.
The number of unemployed fell by 20,200, the underemployment rate also fell 0.1% and the youth jobless rate fell to a record low of 7%, down from 7.9%.
Average weekly earnings data was also released, with the average Aussie taking home $1,769.80 in May, and the national average annual wage for full time employees is $92,030.
“The data confirms that wages are creeping, not leaping, higher,” James added. “But the job market remains tight.”
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | % | Volume | Market Cap |
---|---|---|---|---|---|
LKY | Locksleyresources | 0.09 | 50% | 23,592 | $2,066,835 |
ANL | Amani Gold Ltd | 0.0015 | 50% | 992,527 | $23,693,441 |
ROO | Roots Sustainable | 0.005 | 43% | 11,877,250 | $2,623,714 |
TAS | Tasman Resources Ltd | 0.018 | 38% | 3,971,292 | $8,724,979 |
NGY | Nuenergy Gas Ltd | 0.03 | 36% | 47,708 | $32,581,021 |
MCT | Metalicity Limited | 0.004 | 33% | 10,913,870 | $10,376,118 |
MMG | Monger Gold Ltd | 0.395 | 32% | 2,948,688 | $12,012,000 |
BCA | Black Canyon Limited | 0.26 | 27% | 640,089 | $9,141,457 |
CNJ | Conico Ltd | 0.057 | 27% | 177,594,464 | $65,354,555 |
MEM | Memphasys Ltd | 0.038 | 27% | 3,183,538 | $23,765,350 |
GNM | Great Northern | 0.005 | 25% | 2,852,085 | $6,836,204 |
WBE | Whitebark Energy | 0.0025 | 25% | 711,927 | $11,296,438 |
GCR | Golden Cross | 0.011 | 22% | 759,193 | $9,875,305 |
HMG | Hamelingoldlimited | 0.195 | 22% | 385,568 | $17,600,000 |
RSH | Respiri Limited | 0.052 | 21% | 654,886 | $32,759,393 |
CBE | Cobre | 0.355 | 20% | 27,837,837 | $59,619,186 |
NMR | Native Mineral Res | 0.12 | 20% | 8,208 | $4,782,952 |
AXP | AXP Energy Ltd | 0.006 | 20% | 233,000 | $29,060,903 |
HFY | Hubify Ltd | 0.044 | 19% | 225,000 | $18,357,043 |
PPG | Pro-Pac Packaging | 0.46 | 18% | 187,389 | $31,633,060 |
CMX | Chemx Materials | 0.21 | 17% | 418,241 | $8,341,335 |
LNU | Linius Tech Limited | 0.007 | 17% | 9,384,174 | $13,508,198 |
NAE | New Age Exploration | 0.007 | 17% | 190,000 | $8,615,393 |
OEL | Otto Energy Limited | 0.014 | 17% | 7,727,762 | $57,540,117 |
RMX | Red Mount Min Ltd | 0.007 | 17% | 6,932,993 | $9,854,183 |
In Small Caps news, sperm-spinning bio-tech Memphasys (ASX:MEM) has retreated from this morning’s monstrous 72.0%+ climb, settling at a far more sedate 27% for the day, after announcing a $3.36 million capital raising to accelerate commercialisation of its Felix IVF system and continue development of other product pipeline products.
Black Canyon (ASX:BCA) held steady with its 27% spike after announcing good news in a scoping study evaluating the potential development of the Flanagan Bore Manganese Project, in WA’s Pilbara region.
Recent hard-charger Cobre (ASX:CBE) charged hard again in a late rush on the finish line, on news that Triprop Holdings has received notification of the renewal of the five exploration licences which are held by Triprop subject to a binding earn-in agreement with Kalahari Metals Limited (KML) – it’s up a heart-warming 20%.
(Stocks highlighted in yellow fell after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
Code | Company | Price | % | Volume | Market Cap |
---|---|---|---|---|---|
DW8 | DW8 Limited | 0.009 | -40% | 78,762,961 | $39,679,834 |
KLL | Kalium Lakes Ltd | 0.059 | -36% | 21,652,103 | $108,717,524 |
AUH | Austchina Holdings | 0.008 | -20% | 3,045,462 | $20,368,327 |
CFO | Cfoam Limited | 0.004 | -20% | 66,667 | $3,669,203 |
MGG | Mogul Games Grp Ltd | 0.002 | -20% | 1,504,600 | $8,158,603 |
VPR | Volt Power Group | 0.002 | -20% | 66,700 | $23,361,334 |
ASP | Aspermont Limited | 0.018 | -18% | 1,691,222 | $53,442,246 |
OCN | Oceana Lithium | 0.55 | -16% | 343,166 | $21,958,875 |
BUX | Buxton Resources Ltd | 0.09 | -14% | 424,600 | $15,312,055 |
AJQ | Armour Energy Ltd | 0.006 | -14% | 836,352 | $15,809,156 |
KIN | KIN Min NL | 0.078 | -14% | 2,010,145 | $78,818,189 |
RIE | Riedel Resources Ltd | 0.006 | -14% | 2,142,999 | $7,501,949 |
88E | 88 Energy Ltd | 0.0095 | -14% | 118,977,914 | $182,712,281 |
UVA | Uvrelimited | 0.16 | -14% | 115,000 | $5,827,498 |
CTT | Cettire | 0.885 | -13% | 1,032,719 | $388,862,984 |
OEQ | Orion Equities | 0.2 | -13% | 7,000 | $3,599,322 |
SKN | Skin Elements Ltd | 0.02 | -13% | 68,628 | $9,964,227 |
FAU | First Au Ltd | 0.007 | -13% | 742,500 | $7,451,288 |
VAL | Valor Resources Ltd | 0.007 | -13% | 2,378,000 | $29,268,278 |
OZM | Ozaurum Resources | 0.11 | -12% | 84,500 | $8,714,500 |
92E | 92Energy | 0.415 | -12% | 1,152,504 | $38,482,987 |
SFX | Sheffield Res Ltd | 0.435 | -11% | 579,971 | $169,827,902 |
SI6 | SI6 Metals Limited | 0.008 | -11% | 1,384,666 | $13,393,702 |
FOS | FOS Capital Ltd | 0.21 | -11% | 20,000 | $3,126,943 |
DRE | Dreadnought Resources Ltd | 0.094 | -10% | 39,990,114 | $319,308,523 |
Losing ground today, and while it only took Oceana Lithium (ASX:OCN) a day to climb from $0.55 to $0.695 on Tuesday, it can take some small comfort in knowing that it took the company two full days to hand the whole lot back, falling 15.2% today.
Like a low-budget rap video, it’s just a couple of shorties this afternoon – the first of which is something that slipped through to the keeper yesterday but still warrants a mention.
Corella Resources (ASX:CR9) has kicked off a sonic resource definition drill program at its 100% owned flagship Tampu kaolin project, located near Beacon in Western Australia.
Corella’s all systems go on pushing the ~1,000m program into gearing, consisting of 50 to 80 sonic drill core holes, to an average depth of ~15m to a drill spacing of 80 x 80m in select locations, to produce 10 tonne composite sample for definitive metallurgical test work for offtake and to feed into feasibility studies.
And there’s something afoot among the mining contractors this afternoon, with both MACA (ASX:MLD) and NRW Holdings (ASX:NWH) hitting the picks on trading within minutes of each other, ostensibly to get the story straight on some pretty wild speculation that’s been doing the rounds.
In a nutshell: Thiess Mining Services and MACA have been toing and froing over a deal for a while now, the the Queensland-based Thiess plopping a fat $350m all-cash takeover bid on the table that was all but rubber-stamped and ready to bank.
However, word on the street is that MACA’s been sent an 11th-hour bid by NRW, which has made the newspapers because we love our gossip the way we love our beer farts (“juicy”) and led to the furrowing of many brows.
So MACA and NRW have called a time out, we’re expecting more on this to make itself known between now and tomorrow, and no doubt someone around here will have a thing or two to say about it by the time the dust settles.
Orecorp (ASX:ORR) – OreCorp approaches, bearing news of a DFS from the far-flung Nyanzaga Gold Project in Tanzania
Invex Therapeutics (ASX:IXC) – The FDA has replied to Invex’s postcard about starting its IIH EVOLVE Phase III clinical trial in the United States
MACA (ASX:MLD) – Maca’s called for a timeout to respond to media gossip about a possible deal with NRW, despite an offer from Thiess all but being signed, sealed and delivered. Speaking of which…
NRW Holdings (ASX:NWH) – NRW has also called for a water break, following some feverish back’n’forth on the same story. Curiouser and curiouser.
PTB Group (ASX:PTB) – Rumours are swirling around a potential control transaction, which PTB will tell us all about. Soon. Ish. Maybe.
And the following companies are in halts due to capital raises. We would like to take this opportunity to ask everyone to calm down a bit, because if things keep going at this rate, there won’t be nearly enough capital to go around, and that means that some of you will need to bring in capital from home.
TEK-Ocean Group (ASX:T3K) – Capital Raise.
CardieX (ASX:CDX) – Capital Raise.
Stellar Resources (ASX:SRZ) – Capital Raise.
Fertoz (ASX:FTZ) – Capital Raise.
Nutritional Growth Solutions (ASX:NGS) – Capital Raise.