A record close on Wall St fed into the local market today with the S&P/ASX200 index ending up 47.6 points, or 0.9%, higher at 5,335.9. The broader All Ords was up 46.0 points, or 0.87%, at 5,330.3.
Overnight a 21,000-drop in American jobless claims for November buoyed US markets, sending the Dow to a historic close above 16,000. After weaker than expected Chinese data yesterday the US jobs print looked to be the catalyst markets required to move the needle.
As we reported earlier this morning Glenn Stevens was out jawboning down the dollar Thursday night and in conjunction with the better US economic news the local unit dipped under 92 US cents today.
Barring the gold sector which was off another -1.3% today, every other sector posted gains. Leading the charge was the Industrials adding +1.7%. Energy +1.3%, Utilities +1.0%, Financials +0.9% and Materials +0.7% all posted gains for the day.
David Jones (DJS) copped a first strike protest vote today as the company held its AGM in Sydney. Just under 40% of shareholders voted against the remuneration report put to the meeting. In a resounding defeat for disclosure attendees also got something of an apology for share purchases by two directors just days ahead of the release recent quarterly sales figures. DJS shares closed up 2.07% at $2.96.
Goodman Fielder (GFF) was off 4.08% to $0.705 today after the food ingredients manufacturer said pressures on its domestic bread-baking arm, along with a higher milk price have pressured its performance.
AV Jennings (AVJ) added to recent good news from CSR and JHX on the recovery underway in domestic housing. AVJ ended up 4.31% at $0.605 after the company said the start of the current FY had been promising, with the number of new contracts from July to October standing at 479, compared with 215 during the corresponding period last year.
ASX 200 Gainers and Losers
Fairfax press reports that ACMA has signaled it would clear a News Corp takeover offer for battling broadcaster Ten Network in a Senate estimates hearing this week. Ten shares were the big winner today up +9.26%. Energy stocks were again positive with Senex and Horizon the best of the bunch.
Top 5 Gainers;
• TEN TEN NETWORK HOLDINGS LIMITED +9.26%
• CDU CUDECO LIMITED +8.02%
• HZN HORIZON OIL LIMITED +6.78%
• SKE SKILLED GROUP LIMITED +6.19%
• SXY SENEX ENERGY LIMITED +5.62%
Miserable week for gold and the sector was beaten up again today. Expect to hear from Newcrest next week as the company starts cutting jobs at Telfer in a bid to cut costs.
Top 5 Losers;
• EVN EVOLUTION MINING LIMITED -4.48%
• SDL SUNDANCE RESOURCES LIMITED -4.17%
• GFF GOODMAN FIELDER LIMITED -4.08%
• SBM ST BARBARA LIMITED -3.39%
• PRU PERSEUS MINING LIMITED -3.33%
