Local stock market loses momentum on job figures news

The local share market lost all its early momentum after some much weaker-than-expected employment figures for January were released by the Bureau of Statistics. 

The data revealed the unemployment rate had jumped from 5.8 per cent to a 10-year-high of 6 per cent, and that 3,700 jobs were lost last month.

On average, economists had expected the jobless rate to remain steady and 15,000 jobs to have been created.

The dollar immediately tumbled and investor sentiment soured.

The All Ordinaries Index has closed down one point to hit 5,319 and the ASX 200 has lost two points to finish at 5,308.

There have been a number of corporate profit results published today.

Telstra has posted a 9 per cent rise in its half-year profit to $1.7 billion.

Telstra says it experienced solid growth in its mobile customer base over the six months to the end of December.

The company's shares have gained four cents to reach $5.15.

The country's primary share market operator, the Australian Securities Exchange has announced an 11 per cent rise in its half-year profit.

ASX has made $189.6 million for the six months to the end of December.

Its shares have gained 1.6 per cent.

The toll road operator, Transurban Group has seen its profit inch up to $81 million during the six months to the end of last year.

That is up just 0.1 per cent compared to its profit for the same period the year before. It has added one cent to its share price today to hit $6.83.

The online travel booking firm, Webjet, has announced a 60 per cent surge in its half-year profit.

The company's made $9.17 million in the six months to the end of December. Its shares have soared more than 26 per cent to $3.16.

Rio Tinto is expected to announce its full-year profit later today - its shares have slipped 0.4 per cent today.

BHP Billiton has gained a third of a per cent.

Commonwealth Bank shares have fallen more than 0.5 per cent, NAB has given up 0.4 per cent, while Westpac closed a fifth of a per cent lower but ANZ has eked out a one cent gain to reach $30.99.

The Australian dollar has not recovered from its 1 per cent slide after the job figures came out. At 5om (AEDT) it was buying 89.3 US cents.

On the cross-rates, it was worth 65.65 euro cents, 53.77 British pence, 91.2 Japanese yen and $1.07 in New Zealand.

In commodities, West Texas Crude oil is worth $US100.36 a barrel, the price of a barrel Tapis has eased to $US114.14 and spot gold has fallen to $US1,290 an ounce.

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