A SURGE in job advertisements and improving business confidence data boosted the Australian sharemarket today.
The benchmark S&P/ASX 200 rose for the eighth consecutive day, closing higher by 12.2 points, or 0.3 per cent, at 4820.1 on light share-trading volumes, after an extremely quiet night on Wall Street.
The index bounced from 4791.1 to 4828.1 as confidence in the domestic economy was bolstered by economic data. ANZ Bank said job advertisements surged 19.1 per cent in February from January and National Australia Bank said its business confidence index rose 4 points to plus 19 points in February from January.
But the index failed to break through the seven-week high of 4828.5 struck yesterday.
“The domestic situation looks good in isolation,” said Wesley Legrand at Grand Private Equities. “But we have to see what global influences come to bear.” Mr Legrand remains concerned about the level of sovereign debt in Europe.
For the full article: The Australian
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