Australian Investment Blog

• The ASX 200 followed through from the strength in the overseas markets overnight. Our market took a steady start to the day instead of the usual rush and continued to hold up very well throughout the session. The ASX 200 finished the day up 78 points (+1.4%) to 5,556.• The major news of the day was the release of the Australian Unemployment numbers at 11.30AM. Employment surprisingly jumped higher than expected by 27,000, with the unemployment rate falling to 6% from 6.2% last month.• The Australian dollar jumped on these numbers by 0.8% to a high of 77.81, but surprisingly the banking sector was well supported despite today’s data watering down the possible expectation of a rate cut in the near term. Commonwealth Bank (CBA) rallied $1.50 (+1.9%) at $81.41.• On overseas news, China released their Industrial Production figure for the year. The number came in better than expected at 6.1% (expecting 6%). A modest change for the better.• Woolworths (WOW) continues to be battered and fried, losing 1.3% at $27.08 as reports of another competitor besides Aldi is looking to join the Australian Dream.• In the Telco Space, Vocus (VOC) a stock we currently hold rallied 4.4% higher today at $5.95 ahead of the proposed $1.2b merger with Amcom due tomorrow.