Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Australian shares set to snap 4-day rally; U.S. jobs data awaited

Published 05/06/2020, 11:33 am
Updated 05/06/2020, 11:36 am
© Reuters.
AXJO
-
CSL
-
BOQ
-
AXHJ
-
AXFJ
-
AXIJ
-
EVN
-
JHG
-
TBR
-
NZ50
-
ALU
-
APX
-
GTK
-
APT
-
PPH
-

June 5 (Reuters) - Australian shares edged lower on Friday, dragged by healthcare and technology stocks, as the index eased out of a four-day rally over which it gained more than 4%, while investors also awaited a key U.S. jobs data expected later in the day.

Hopes of an economic rebound, amid easing of lockdown restrictions and fresh stimulus, had carried the benchmark stock index to a near three-month high.

Investors on Friday kept to the sidelines ahead of U.S. nonfarm payrolls data expected to be released at 1230 GMT, with the country's unemployment rate forecast to rocket to 19.8%, a post-World War Two record, from 14.7% in April. S&P/ASX 200 index .AXJO fell 0.3% to 5,975.4 points by 0056 GMT. The index was set to post its sixth straight week of gains. The benchmark rose 0.8% on Thursday.

Healthcare stocks .AXHJ shed 3.2% with heavyweight biotherapeutics firm CSL Ltd CSL.AX shedding 3.7%.

Technology stocks .AXIJ fell 1.9%, with shares of Appen Ltd APX.AX , down 3.9% and Altium Ltd ALU.AX losing 3.2%.

Shares of the buy-now-pay-later firm Afterpay Ltd APT.AX fell 2.4% but remained above the A$50 mark.

Gold stocks extended their fall into a fourth straight session with a 0.5% decline, led by Tribune Resources Ltd TBR.AX , down 7.4%, followed by Evolution Mining Ltd EVN.AX , losing 1.6%.

Meanwhile, financial stocks .AXFJ continued an upward march and rose 0.92%, with Bank of Queensland Ltd BOQ.AX and Janus Henderson Group PLC JHG.AX , gaining 3.3% and 3.3%, respectively.

The sub-index is on track to post a weekly gain of more than 6%.

Across the Tasman sea, the New Zealand benchmark S&P/NZX 50 index .NZ50 fell 0.2% to 11,201.4.

The top percentage losers on the .NZ50 were Gentrack Group Ltd GTK.NZ , down 6.5%, followed by Pushpay Holdings Ltd PPH.NZ , losing 3.6%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.