Australian Job Vacancies Fall, Housing Construction Slows

Marcus Jacob
08 Jan, 2014
New York City

Australian job vacancies declined 0.3% in three months to November and dropped 14.9% from a year ago period. Residential construction recovery slowed in December. E*Trade in Australia reported annual profit.

[R]4:30 PM Sydney – Australian job vacancies declined 0.3% in three months to November and dropped 14.9% from a year ago period. Residential construction recovery slowed in December. E*Trade in Australia reported annual profit.[/R]

Australian markets eased and extended weak trading for the fifth day in last weeks of trading and investors sold mining stocks.

The Australian Bureau of Statistics reported job vacancies in quarter ending in November fell 0.3% after rising 3.1% in the three months to October and declined 14.9% from a year ago.

Residential construction recovery in December slowed according to an index tracked by the Australian Industry Group and Housing Industry Association.

The index declined 4.2 points to 50.8 in December, any reading above 50 indicates expansion.

Australian dollar rose to 89.30 U.S. cents and in stock market trading turnover edged up to 615 million shares worth $3.1 billion.

The ASX 200 index slid 1 to close at 5,316 and the broader All Ordinaries fell 0.10 to 5,318.70.

Stocks in Review

Rio Tinto slipped 65 cents to $65.35. BHP fell 17 cents to $37.04.

Woodside Petroleum Limited gained 22 cents to $37.88.

Westpac slid 4 cents to $32.04.

Australia and New Zealand Banking Group Limited slipped 0.5% to $31.71 after the bank’s subsidiary E*trade reported net for the year ending in September swung to a profit $34 million from a loss a year ago.

E*Trade controls the 17% of the online trading for retail investors following the largest market share of 51% held by Commsec owned by Commonwealth Bank of Australia.

Goodman Fielder Ltd closed unchanged at 66.5 cents after the breads and spreads maker agreed to sell its New Zealand meats and pizza businesses for $14 million.

Sirtex Medical Limited surged 16.1% to $13.24 after the biotechnology and medical device maker said revenue in the quarter ending in December for SIR-Spheres liver cancer treatment climbed 18.7% from a year earlier.