Investing.com - The Australian stock market curbed its initial losses after an underwhelming employment report, yet remains down by 0.7% due to a slump in the materials and communications sectors.
In the wake of this, the Australian dollar continued its downward trajectory reaching a nine-month low at US63.63¢. The currency lost another 0.7% during this session, accumulating over a 5% loss for the month so far.
Investors witnessed shares in Telstra Group Ltd (ASX:TLS) dropping by 2.2%, following their decision to postpone selling off a substantial infrastructure business segment.
Core Lithium Ltd (ASX:CXO), engaged in battery metals development, was hit hardest with shares tumbling by an alarming rate of 22.6%. This occurred subsequent to Wednesday's announcement about a $100 million share placement reported via Street Talk.
Mining powerhouses also pulled back with BHP Group Ltd (ASX:BHP) falling by half percent (0.5%) while Rio Tinto Ltd (ASX:RIO) slipped by 0.8%. Amongst the big four banks such as National Australia Bank Ltd (ASX:NAB) Westpac Banking Corp (ASX:WBC), Commonwealth Bank Of Australia (ASX:CBA) and ANZ Group Holdings Ltd (ASX:ANZ), there were declines ranging between 0.7% and 1.6%.
On the other hand, Inghams Group Ltd (ASX:ING) provided some optimism with share prices skyrocketing by an impressive figure of around 14%. This surge followed their announcement revealing that they had managed an astounding leap of nearly three-quarters (72%) increase in net profit for the full year.
Additionally, showing signs of resilience was Origin Energy Ltd (ASX:ORG) which saw stocks rise up moderately at around one-and-half percent (1.6%), after indicating potential earnings enhancement within its energy markets division.