AUSTRALIAN STOCKS CLOSE 1.94% LOWER ON WEAK US JOBS DATA
DATE: 04/06/2012
SYDNEY: Australian shares closed
1.94 per cent lower Monday after poor US jobs figures added to fears for global
growth sparked by Europe's economic crisis.
The benchmark S&P/ASX200 index ended the day down 78.9 points at 3,985, slipping below the psychologically important 4,000 barrier as shares tracked falls on global markets Friday.
Analysts said weak US figures weighed on investor sentiment, but Australian stocks had not fared as badly as those elsewhere in Asia.
"It's not disastrous," Martin Lakos from Macquarie Private Wealth told ABC Radio.
"We are down and down on low volumes so there is not a lot of heavy selling going on."
The risk-based Australian dollar was trading at 96.66 US cents, down from 97.02 cents on Friday.
Washington said on Friday that the economy added a meagre 69,000 jobs in May -- the slowest rise for 12 months -- while the unemployment rate rose for the first time in almost a year, to 8.2 per cent.
The benchmark S&P/ASX200 index ended the day down 78.9 points at 3,985, slipping below the psychologically important 4,000 barrier as shares tracked falls on global markets Friday.
Analysts said weak US figures weighed on investor sentiment, but Australian stocks had not fared as badly as those elsewhere in Asia.
"It's not disastrous," Martin Lakos from Macquarie Private Wealth told ABC Radio.
"We are down and down on low volumes so there is not a lot of heavy selling going on."
The risk-based Australian dollar was trading at 96.66 US cents, down from 97.02 cents on Friday.
Washington said on Friday that the economy added a meagre 69,000 jobs in May -- the slowest rise for 12 months -- while the unemployment rate rose for the first time in almost a year, to 8.2 per cent.
POWERED BY: ECONOMIC TIMES
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