A jobs surge puts the next few rate cuts into question; household spending still stagnant; Xero reports growth in both profit and revenue; and the Market Wrap.

MARKET WRAP:

• ASX200: up 0.22%, 8,297
• GOLD: $3,180 US/oz
• BITCOIN: $158,540 AUD

• Xero reported after tax profit growth of 30% to $227.8 million NZD, helping shares rise 4.7% to $182.05
• The tech sector overall was stronger, with Wisetech rising 1.9% and Technology One up 1.3%.
• IAG rose 5.7% to $8.90 as it said it would acquire RAC Insurance in a $1.35 billion deal.
• The banks were all positive, with the Big Four all higher, and Macquarie recovering 1.2% after yesterday’s ASIC lawsuit.
• Changes at the top of Treasury Wine Estates was enough to tank its share price, falling 5.2% on the announcement of its next CEO.
• A deal between Lendlease with Britain’s The Crown Estate – owned by the royal family and King Chalres – for development projects didn’t wow the market. Shares slid 1.6% to $5.39.
• BHP, Fortescue and Rio Tinto marginally weaker.

CURRENCY UPDATE:

• AUD/USD: 64.3 US cents
• AUD/GBP: 48.5 pence
• AUD/EUR: 57 Euro cents
• AUD/JPY: 95 Japanese yen
• AUD/NZD: 1.09 NZ dollars

Host: Deb Knight

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio