Australian stocks are in and out of positive territory this Friday morning (S&P/ASX 200 is currently flat at around 5,409), but several analysts and media reports suggest Sydney is just biding its time ahead of the always-significant U.S. monthly jobs report.
And sure enough, many of the most-widely-held shares are showing very little movement: BHP Billiton is up 0.1%, NAB and ANZ are down 0.1% each, Telstra is up 0.1%, and so forth.
Even construction-materials firms Boral and CSR, which are making news with plans to team up in a new brick-making joint venture, aren’t seeing too much of a bang for their shares, with with CSR rising 0.1% and Boral with a more substantial 0.6% advance.
Of course, some names are seeing more sizable moves: Aluminum prices hit a four-month high overnight, sending shares of Alumina … down 1.2% to undo their 0.8% advance in the previous session.
Also showing some life: Uranium miner Paladin Energy is up 3.8%, Billabong is up 1.9%, and Fairfax Media is up 2.4%.
The Australian market has tracked steadily higher ever since hitting support levels at 5,300 point mid-March. This run looks sustainable in the near term, as buying momentum across the Big Four banks gains traction and the big miners recover from recent China slowdown fear driven selling.
And sure enough, many of the most-widely-held shares are showing very little movement: BHP Billiton is up 0.1%, NAB and ANZ are down 0.1% each, Telstra is up 0.1%, and so forth.
Even construction-materials firms Boral and CSR, which are making news with plans to team up in a new brick-making joint venture, aren’t seeing too much of a bang for their shares, with with CSR rising 0.1% and Boral with a more substantial 0.6% advance.
Of course, some names are seeing more sizable moves: Aluminum prices hit a four-month high overnight, sending shares of Alumina … down 1.2% to undo their 0.8% advance in the previous session.
Also showing some life: Uranium miner Paladin Energy is up 3.8%, Billabong is up 1.9%, and Fairfax Media is up 2.4%.
The Australian market has tracked steadily higher ever since hitting support levels at 5,300 point mid-March. This run looks sustainable in the near term, as buying momentum across the Big Four banks gains traction and the big miners recover from recent China slowdown fear driven selling.