The ASX200 has been up 0.83% at 8,354 points in early afternoon trade. The index hit a new intra-day record of 8384 points in morning trade, before paring gains on release of September jobs data.
The September unemployment rate came in at 4.1%, and is substantially lower than expected. This was on the back of more than 64,000 new jobs created last month, more than double market expectations.
The upshot is now less pressure on the RBA to cut rates. Markets have now priced in a 1 in 3 chance of a cut this year, down from a 50/50 chance before the jobs data release today.
The bourse immediately pared early gains following the release of the jobs data, but is still trading at near record levels.
Real Estate has been the top performing sector, up 1.6%, followed by Industrials, up 1.45% and Financials, up around 1.2%.
IT was the one and only sector in red, down a third of a percent. (0.33%).
Company News
Gold Hydrogen (ASX:GHY) has been down 6.8% on news of world leading helium purities of 36.9% at its Ramsay Project in South Australia.
Gold Hydrogen has been 85.3 cents.
Ora Banda Mining (ASX:OBM) has been up more than 11.5% on quarterly results. The company’s production was up 26% quarter over quarter, delivering a record result from its Davyhurst process plant in WA. Gold sales increased by 40% to a record 25,536 ounces.
Ora Banda Mining has been trading at 75 cents.
Australian Gold and Copper (ASX:AGC) has been down nearly 15% on reported high-grade results from its Achilles discovery in the Cobar Basin in central NSW.
Australian Gold and Copper has been 20 cents.