Market Wrap: Jobs data spurs late surge on ASX

The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) closed flat, despite a strong rally from Commonwealth Bank of Australia (ASX:CBA)

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The ASX pared back some of its late gains, but still ended the day slightly higher.

Here's a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.1% to 5,126 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5,182 points
  • AUD/USD at US 71.36 cents
  • Iron Ore at US$48.58 a tonne, according to the Metal Bulletin
  • Gold at US$1,087.46 an ounce
  • Brent oil at US$46.01 a barrel

Local investors were encouraged by strong jobs numbers today, aiding the market to a slight gain.

The numbers, released by the Australian Bureau of Statistics, showed the number of people employed increased by 58,600 during October 2015 with the unemployment rate falling to 5.9%, down from 6.2%.

The banks provided the most support – particularly Commonwealth Bank of Australia (ASX: CBA) which rose 1.8%. The bank's three rivals rose between 0.7% and 1.6% each.

BHP Billiton Limited (ASX: BHP), on the other hand, continued to drag on the overall market, as did Telstra Corporation Ltd (ASX: TLS) and Woolworths Limited (ASX: WOW). The trio fell between 0.2% and 1.6% with BHP declining the most as the fallout from its Brazilian mine collapse continued.

Computershare Limited (ASX: CPU) was the standout performer for the day, lifting 5%. Aurizon Holdings Ltd (ASX: AZJ) also lifted strongly, up 4%.

Santos Ltd (ASX: STO) wasn't so lucky. The shares plummeted 27.2% after they emerged from a trading halt on a shortfall in the take-up by institutional investors of its heavily discounted share offer.

Here are Thursday's top stories:

  1. It's Official: The Mining Boom is Bust
  2. This real threat could cost Warren Buffett millions
  3. Get ready for the Food Boom
  4. Why investors are ignoring these blue chip dividend stocks
  5. A Beginner's Guide to Investing in the Share Market
  6. Why BHP Billiton Limited's reputation could be on the line
Motley Fool contributor Ryan Newman owns shares of Computershare. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest. The Motley Fool Australia owns shares of Computershare. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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