The Australian sharemarket declined after a stronger-than-expected US jobs report weakened expectations for an imminent interest rate cut from the Federal Reserve. The S&P/ASX 200 index slid 0.9 percent, tracking losses on Wall Street fueled by the positive US economic data.
The Australian sharemarket fell after a surprise jump in US jobs data dashed hopes for an imminent interest rate cut from the Fed eral Reserve. The S&P/ASX 200 index fell 0.9 per cent, or 72.1 points, to 8222 by midday AEDT, tracking heavy Wall Street losses on Friday. The All Ordinaries Index also fell 0.9 per cent. The S&P 500 Index closed down 1.
Energy stocks rallied after Brent crude climbed to a four-month high of $US81 a barrel after further US sanctions against Russia. The sector was trading 2 per cent higher, as Woodside rallied 2.2 per cent and Santos rose 1.9 per cent. Stocks in focus In corporate news, Insignia lifted 2.4 per cent after the company received an offer from Bain Capital to acquire its shares for $4.30 to match CC Capital’s bid. Novonix shares fell 4.
SHAREMARKET AUSTRALIA FED JOBS RATE
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