The local share market has closed the session lower today after weaker than expected jobs data caused concern about economic growth prospects.
The S&P/ASX 200 Index finished 46 points lower at 4,524 while on the futures market, the SPI200’s down 38.
In economic news: The TD Securities/Melbourne Institute gauge of consumer price inflation rose 0.8% in January, the biggest rise in six months and keeping the annual inflation rate at 2.6%.
ANZ’s monthly job ads survey showed an 8.1% fall in the total number of job advertisements in January.
And according to data from the ABS the weighted average price of established houses in Australian capital cities rose 5.2% in the December quarter.
Melbourne had the largest quarterly increase with house prices up 6.8%.
To company news around this afternoon: Iron ore miner Gindalbie Metals Ltd (ASX:GBG) and Sinosteel Midwest Corporation have signed an agreement to share access to infrastructure and mine services for their neighbouring projects in Western Australia. Gindalbie says the agreement is between Sinosteel Midwest and Gindalbie’s joint venture company Karara Mining Ltd, and is designed to enhance project economics and unlock synergies between the Karara Iron Ore Project and Sinosteel Midwest’s nearby Koolanooka/Blue Hills Project. Gindalbie’s Managing Director Grant Dixon and Sinosteel Midwest’s CEO Giulio Casello say the agreement represents a significant achievement for the development of a mining industry in the Mid West region and set a new benchmark for strategic cooperation and infrastructure-sharing between mining companies in Australia. Shares in Gindalbie Metals closed 3.68% weaker at $0.915.
Private hospital owner Ramsay Health Care Ltd (ASX:RHC) has upgraded its earnings guidance for the year as a result of better than expected performance in the UK and Australian businesses. For the 12 months to December 31 the company expects net profit to be 18 to 20% higher than the year before, this compares to guidance of between 12 and 14% growth. Ramsay says it also expects to report an increase of between 32 and 34% in net profit after tax for the six months to December 31. Shares in Ramsay Health Care closed 3.75% higher at $11.90.
Also making news: Provider of cranes and related industrial services, Boom Logistics Ltd (ASX:BOL) has been awarded a three year contract to supply cranes and associated services to Rio Tinto Ltd (ASX:RIO) iron ore operations in the Pilbara region of Western Australia.
And supplier of marine support facilities Mermaid Marine Australia Ltd (ASX:MRM) has won a two year contract with a one year option, for Woodside Petroleum Ltd (ASX:WPL) offshore platforms.
Argo Investments Ltd (ASX:ARG) has reported a 14.7% decline in profit for the December 2009 quarter to $82.7 million.
And Aristocrat Leisure (ASX:ALL) says it expects to exceed market consensus estimates for operating profit before non-recurring items for fiscal 2009. The Company’s operating profit after tax is expected to be approximately $116 million for the year ending December 2009.
In the best and worst performers: The best performing sector today was the Consumer Discretionary index, which was up 8 points at 1,564. The worst performing today was the Energy index; which lost 371 points to 14,162.
The best performing stock in the S&P/ ASX200 was Charter Hall Group shares gained 11.36% to $0.735, the company is in talks with Macquarie Group regarding the potential sales of parts of Macquarie’s Real Estate funds management platform. Shares in Aristocrat Leisure and Transfield Services also improved.
The worst performing stock was Energy World Corp shares lost 11.48% to $0.27. Platinum Australia and Extract Resources shares also closed lower today.
In commodities, gold is trading at $1,079.60 U.S an ounce and light crude is down 24 cents at $72.65 U.S a barrel.
