S&P/ASX 200 (INDEXASX:XJO) has gained 0.80% to 6,987 by about 12.45 pm following the release of better-than-expected job numbers.
Australia’s jobless rate declined from 5.6% to 5.5% in April, beating economists’ expectations, with the number of unemployed people falling by 33,000.
The market was expecting the unemployment rate to remain steady at 5.6% and for 20,000 jobs to be added.
Financial stocks were among the gainers, with Commonwealth Bank (ASX:CBA) lifting 2.4% and Westpac (ASX:WBC) rising 1.07%.
US monetary policy
The US markets were weaker overnight as investors digested the minutes from the April 28 Federal Reserve meeting.
Federal Reserve officials indicated that a strong pickup in economic activity would warrant discussions about tightening monetary policy.
The meeting summary said: “A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.”
Top gainers
Today’s top gainers on the ASX include American Rare Earths Ltd (ASX:ARR) (+11.59%), Argonaut Resources NL (ASX:ARE) (+12.50%), Arrow Minerals Ltd (ASX:AMD) (+16.67%), Castillo Copper Ltd (ASX:CCZ) (+9.30%), Firefinch Ltd (ASX:FFX) (+9.09%) and Golden Rim Resources Ltd. (ASX:GMR) (+10.00%).
Proactive news headlines:
Strategic Elements moisture powered battery progresses towards milliamp range
Strategic Elements Ltd (ASX:SOR) has reached several critical new development milestones for its moisture powered self-charging battery with shares as much as 9% higher intra-day to A$0.305.
Austral Gold discovers two new veins at Amancaya Mine in Chile
Austral Gold Limited (ASX:AGD) has discovered two new gold-silver rich veins at Amancaya Mine in Chile following the receipt of new assay results from 11 drill holes.
Westar Resources begins Gidgee South maiden RC drilling and exploration at Birrigrin Mining Centre
Westar Resources Ltd (ASX:WSR) has kicked off its maiden reverse circulation (RC) drilling program at Gidgee South Gold Project in Western Australia as well as exploration at the Birrigrin Mining Centre which includes a DGPR survey over the Birrigrin line of workings and surrounds.
Valor Resources begins fieldwork at Peruvian copper-silver project
Valor Resources Ltd (ASX:VAL) has started a desktop review on the Picha Copper-Silver Project in southern Peru that will incorporate fieldwork.
Lotus Resources fields strong initial results as ore sorting tests begin at Kayelekera Uranium Project
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Castillo Copper geophysics reveal Big One Deposit likely to be even bigger
Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) is buoyed by preliminary interpretations by a geophysicist consultant that reveal possible extensions to mineralisation at Big One Deposit within the Mt Oxide Project in northwest Queensland’s Mt Isa Copperbelt.
Firefinch marks another milestone in Morila ramp-up with Pit 5 ore hitting gold comminution circuit
Firefinch Ltd (ASX:FFX) (OTCMKTS:EEYMF) (FRA:N9F) has achieved another milestone in the second stage of its ramp-up strategy with commissioning of the Morila Gold Mine comminution circuit in Mali, West Africa, using stockpiles as well as feed from Morila Pit 5.
Skyfii wants to become world leader in global data intelligence
Skyfii Ltd (ASX:SKF) (OTCMKTS:SFIIF) is seeking to become the “global leader in data intelligence”, as it looks ahead to promising financial results from the June quarter.
Iron Road independent technical review verifies CEIP ore processing flowsheet
Iron Road Ltd (ASX:IRD) welcomes the completion of an independent technical review of the ore processing flow sheet for Central Eyre Iron Project (CEIP) that verifies the ore processing flowsheet.