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The ANZ job advertisement series shows that listings fell for the first time in five months. The survey shows overall job ads dropped almost 6% in May. Curiously1 at the same time the key survey has found that Federal budget has done little to bring down the mood among Australia's business owners. NAB's monthly business survey found confidence among business owners held steady at a reading of seven in May.
To Company News now:
And Pacific Brands, the company that owns bonds and shares and ships, has downgraded its full year earnings2 forecast. It's blaming a warmer-than-usual Australian autumn and declining consumer sentiment. For the same reason – that unseasonally warm autumn weather – the discount chain of Reject Shop has cut its full year profit forecast as well.
Turning the market reaction:
And not surprisingly both Pacific Brands and the Reject Shop led the declines, Pacific Brands down 8%, the Reject Shop down twelve. And Solomon Lew's Premier3 Investment, the company that owns Just Jeans and the Smigal, has followed them lower down 3.5% today. Karoon Gas was the best performer and the Commonwealth4 bank, the best of the Big Four Banks, up close to its record high.
The broader Australian share market has just managed to hold on to some of the morning's gains. By the close the All Ords was down 1/10 of a percent, as was, up a 1/10 of a percent rather, as was the ASX 200 Index.
Across the region:
Japan's Nikkei is heading in the opposite direction; Hong Kong's Hang Seng, however, is making some solid gains; and the Australian Dollar is currently buying 93.68 US cents up against the Green Back at the moment.
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1 curiously | |
adv.有求知欲地;好问地;奇特地 | |
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2 earnings | |
n.工资收人;利润,利益,所得 | |
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3 premier | |
adj.首要的;n.总理,首相 | |
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4 commonwealth | |
n.共和国,联邦,共同体 | |
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