Australia Stocks higher ahead of U.S. jobs report

The Australian share market finished marginal higher after recouping earlier losses on Friday, 05 June 2020, making it five straight days of gains on hopes for a global economic recovery prospects. However, market gains capped as investors took profits off the table ahead of tonight's US jobs figures. At closing bell, the benchmark S&P/ASX200 index advanced 6.89 points, or 0.12%, to 5,998.72, the highest close since 6 March 2020. The broader All Ordinaries added 4.46 points, or 0.07%, to 6,116.47.

There was a tug-of-war on Friday between the banks (which stood out) and healthcare stocks (which struggled). The major banks rose by around 3% today

 

Travel stocks remained impressive performers as some continue to embrace signs that the reopening of some borders isn't too far away. Sydney Airport (SYD) rose by 6.2% while Qantas (QAN) jumped by 3%.

Kogan.com (KGN) surged by 8.6% following the release of business update. The online retailer said that sales and profits more than doubled in April and May.

Healthcare stocks underperformed, with CSL Limited (CSL) sliding by 3%. FPH, COH and RMD also lost ground.

CURRENCY NEWS: The Australian dollar changed hands at $0.6989 after seeing an earlier high of $0.7004.

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