The S&P/ASX200 is lower today, dropping 10.60 points or 0.14% to 7,735.00 after setting a new 100-day high. The bottom-performing stocks this afternoon were Healius Ltd and Viva Energy Group Ltd, down 3.85% and 3.64% respectively.
Over the last five days, the index has gained 1.20% and is currently 0.44% off its 52-week high.
Real Estate was firmly in the green, up as much as 1.80% after lunch, as was Information Technology, up 0.93%, while Health Care, Utilities and Industrials dragged the other way, down 0.81%, 0.77% and 0.51% respectively, with everything else falling somewhere in the middle.
Job ads decrease
The latest data from ANZ-Indeed reveals a continued decline in job advertisements in Australia, with a 2.8% decrease in February.
The persistent downturn follows a peak in job ads recorded in November 2022.
Despite the recent declines, the volume of job advertisements remains 37.8% above pre-pandemic figures, a significant increase on levels witnessed before the global health crisis.
The correlation between job advertisement trends and future unemployment rates raises a pivotal question.
Historically, a decrease in job ads has often been an indicator of an ensuing rise in unemployment rates – so there are fears that the current drop in job ads could potentially signal an increase in unemployment figures in the near term.
ASEAN begins in Melbourne
Hundreds of business leaders, diplomats, academics and the leaders of nine South-East Asian countries have descended on Melbourne for the ASEAN summit this week.
While trade and security are poised to dominate the major diplomatic event, it will also have a strong economic flavour, with sideline negotiations and deal-making sessions aimed at attracting investors to the burgeoning economies of South-East Asia.
The five at five
Sipa Resources regains control of Paterson North Copper-Gold Project
Sipa Resources Ltd (ASX:SRI) has regained 100% ownership and control of the Paterson North Copper-Gold Project in Western Australia’s Paterson region, where it continues to test the many targets across the project area.
Suvo Strategic Minerals in MoU with Dowsing Group for low-carbon geopolymer concrete applications
Suvo Strategic Minerals Ltd (ASX:SUV) has executed a non-binding Memorandum of Understanding (MoU) with leading civil contractors Dowsing Group, specialists in slipform concrete pavements, barriers, kerbing, footpaths, hardscapes and civil services.
FireFly Metals fields strong copper-gold results at Green Bay heralding ‘substantial’ resource expansion
FireFly Metals Ltd (ASX:FFM) has uncovered some high-grade copper-gold intersections from its latest drilling campaign at the Green Bay Project in Canada, pointing to the potential for resource expansion.
Patrys to present at international conference on use of deoxymabs in autoimmune disease treatment
Patrys Ltd (ASX:PAB) will present new data from preclinical studies assessing PAT-DX1 in animal models of anti-neutrophil cytoplasmic antibody (ANCA) vasculitis, a type of auto-immune disease, at the 21st International Vasculitis Workshop in Barcelona next month.
Intra Energy Corp hits high-grade gold in sampling at Maggie Hays Hill
Intra Energy Corporation Ltd (ASX:IEC) has received multiple high-grade gold results of up to 17.8 g/t from a mapping and rock sampling program at the recently acquired Maggie Hays Hill Project, which is prospective for lithium, nickel and gold in the Lake Johnston region of Western Australia.
On your six
OPEC+ extends voluntary crude supply cuts until the end of June
Saudi Arabia and Russia, along with other principal OPEC+ producers, have announced the extension of their voluntary crude supply reductions until the end of the second quarter. This decision underscores the coalition's ongoing efforts to stabilize the global oil market.
The one to watch
Swoop revenues climb on organic growth
Swoop Holdings Ltd (ASX:SWP) CEO Alex West sits down with Proactive’s Jonathan Jackson to detail the company's operations, half-year highlights, and future ambitions. Swoop, a player in the competitive telecommunications space in Australia, aims to stand out through innovative solutions and customer-focused services.