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Category: Business, Economics and Finance / Markets / Stockmarket

Share market finishes steady ahead of US jobs data

Friday, 8 Jul 2016 16:07:37 | Liz Hobday

The ASX 200 fell 0.3 per cent for the week. (Reuters: David Gray)

The local share market has finished the week steady, as investors wait for key US jobs data due later in the global day.

The All Ordinaries Index has closed 0.1 per cent or 5 points higher to 5,316, while the ASX 200 gained just 2 points to 5,231.

There were mixed results across all sectors as the share market ended the week close to where it began, with the ASX 200 down 0.3 per cent for the week.

Foodmaker Bellamy's Organic gained 63 cents to $11.00 on rumours of a takeover bid, while the building construction firm CIMIC lifted 4.1 per cent or $1.25 to $31.50, recovering slightly from a sharp drop in the previous session amid concerns about the company's books.

Sky Network jumped 4.6 per cent, but JB Hi-Fi dipped 0.4 per cent.

Among health stocks, Sonic Healthcare lost 1.5 per cent to $21.35, and CSL lost 0.5 per cent.

Meanwhile Telstra has sacked hundreds of workers with most job losses in Melbourne and Perth, and will send some work offshore to the Philippines.

Telstra shares edged 0.2 per cent higher to $5.59.

Elsewhere, the corporate regulator has finalised its case against the financial services provider, IOOF and would not be imposing a penalty.

IOOF shares lifted 1 per cent to $8.18.

In commodities, at 5:00pm AEST West Texas Crude oil was lower at $US45.17 a barrel.

Iron ore was a little weaker at $US55.20 a tonne, while gold also lost ground to $US1,356 an ounce.

The Australian dollar has ticked 0.3 per cent higher, to buy 75 US cents.

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