Yahoo Finance ASX down as Virgin slashes jobs
The benchmark S&P/ASX200 (^AXJO) has finished down 0.61 per cent to 6,001.30, weighed down by financials, health stocks and disappointing data from China.
The broader All Ordinaries index (^AORD) also closed 0.50 per cent in the red to 6,135.90 points.
What happened this morning?
The benchmark S&P/ASX200 (^AXJO) has opened 0.41 per cent lower to 6,013 points at 10:06 AEST, after Virgin Australia announced it would fire 3,000 workers and axe its low-cost carrier, TigerAir.
Group chief Paul Scurrah said the new cost-cutting measures were “tough”, but not permanent, with Virgin intending to secure 6,000 jobs when the market recovers.
The broader All Ordinaries index (^AORD) also opened 0.38 per cent lower to 6,143.20 points at 10:07 AEST.
Federal Education Minister Dan Tehan is set to unveil a childcare rescue package today to secure jobs and positions during Melbourne’s six-week lockdown.
What happened overnight?
Wall Street finished higher despite a choppy session, with Apple and energy stocks buoying the stock market.
Around 83 per cent of the 352 companies in the S&P 500 reported quarterly results that beat initial estimates for earnings, according to IBES Refinitiv data.
The Dow Jones Industrial Average rose 0.62 per cent to end at 26,828.47 points while the S&P 500 gained 0.36 per cent to 3,306.51 and the Nasdaq Composite climbed 0.35 per cent to 10,941.17.
With AAP.
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