Money Australia shares buoyed by U.S. jobs data; New Zealand closes at record high

13:29  13 march  2018
13:29  13 march  2018 Source:   reuters.com

Nisbet storms home to steal NZ Open

  Nisbet storms home to steal NZ Open Australian golfer Daniel Nisbet has fired a nine-under 62 final round to snatch a two-stroke win at the New Zealand Open in Queenstown. Australian Daniel Nisbet has won the New Zealand Open with a storming finish, firing a final round nine-under 62 to snatch a two-stroke win from overnight leader Terry Pilkadaris in Queenstown.Nisbet hauled back compatriot Pilkadaris, who had held a five-shot lead after three rounds, with a superb back nine which included an eagle at the par-five 10th.He finished with a course record 27-under 260 across four rounds.

The benchmark closed marginally lower on Friday. BHP Shares rose nearly 2 per cent, hitting their highest in about 45 months. New Zealand ' s benchmark S &P/NZX 50 index rose 0.4 per cent, or 36.54 points to finish the session at record close of 8,713.23 in its ninth straight session of gains.

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The Australian Securities Exchange ASX logo is seen in Sydney© REUTERS/Daniel Munoz The Australian Securities Exchange ASX logo is seen in Sydney Australian shares rose on Monday as a firm U.S. jobs data report boosted global investor sentiment while material stocks finished strong on news that Australia could be exempted from new U.S. trade tariffs on steel and aluminium imports.

The S&P/ASX 200 index (.AXJO) rose 0.6 percent, or 32.90 points, to 5,996.10 at the close of trade, its highest since Feb. 28. The benchmark rose 0.3 percent on Friday.

The U.S. economy added the biggest number of jobs in over 1-1/2 years in February, data showed, but a slowdown in wage growth pointed to only a gradual increase in inflation this year, which potentially reduces chances of a faster pace of rate hikes by the Federal Reserve. [.N]

Aussies lose to All Blacks in rugby Sevens

  Aussies lose to All Blacks in rugby Sevens Sione Molia bagged a spectacular try in extra time as New Zealand beat Australia 17-12 to finish fifth at the Las Vegas Sevens.Sione Molia received the ball behind his own posts and ran more than 100m to bag a spectacular match-winning try, producing two jinks to elude Australian sweeper James Stannard.

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Australian shares inched up on Monday, as cautious outlook from retailer Woolworths Group and rubber products maker Ansell offset gains from materials stocks, which were buoyed by upcoming trade talks between US and Chinese officials. China and the United States will hold lower-level trade

Sentiment was bolstered when U.S. President Donald Trump said that he was working on a deal so Australia would be exempt from the tariffs that had roiled markets worldwide.

Metals and mining stocks led the gains, with their subindex (.AXMM) finishing the day 1.4 percent higher, helped by a recovery in base metal prices. [MET/L]

Giant BHP Billiton (BHP.AX), the largest miner on the index by market capitalisation, rose 2.1 percent while Rio Tinto (RIO.AX) climbed 2.3 percent to its highest close since March 8.

Gold miner Newcrest mining (NCM.AX) was the biggest drag on the index, ending the day 4.6 percent lower, its lowest in seven months.

Newcrest said on Monday its fiscal 2018 guidance would be adversely affected by the closure of its flagship mine following damage to a tailings dam wall.

New Zealand shares ended Monday's session at a record high, led by consumer stocks.

The benchmark S&P/NZX 50 index (.NZ50) rose 0.9 percent or 73.98 points to finish at 8,463.99.

A2 Milk (ATM.NZ) ended about 4.7 percent higher and served as the biggest boost on the benchmark, while Heartland Bank Ltd (HBL.NZ) ended down 2.7 percent.

The economics of Australian pay rises, explained in a cricketing term anyone can understand .
Australia currently requires employment to increase by just over 20,000 per month to keep unemployment steady. It's been below that level in each of the past two months, seeing unemployment lift to 5.6%.If you're a fan of cricket and economics -- or just interested about when Australian wage growth will pick up -- you'll like the chart below from the National Australia Bank (NAB).

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