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Market Update

Australian Stocks Jump, Jobless Rate Ease to 6.3%

Author: Marcus Jacob
Last Update: 10:41 AM ET March 12 2015

5:30 PM Sydney In active trading, market indexes in Australia jumped on a slight rebound in resource stocks. Jobless rate in February declined to 6.3% from 6.4% in January. Whitehaven Coal completed $1.4 billion debt refinancing and extended repayment to 2019.

Stocks in Sydney rebounded at the opening and the increase in market indexes was led by the advance in resource stocks.

Seasonally adjusted unemployment rate in February fell to 6.3% in February from 6.4% in January, the Australian Bureau of Statistics said today.

Australian dollar closed at 76.02 U.S. cents and in stock trading turnover slumped to 806 million shares worth $5 billion.

ASX 200 Index jumped 57 or 0.9% to 5,850.20 and broader All Ordinaries Index gained 52.70 to 5,816.

In commodities trading, gold declined US$7 to US$1,155 an ounce and light crude oil slid 5 cents to US$50.02 a barrel.

Brent crude increased 67 cents to close at US$58.21 a barrel.

Australian Stock Movers

Decmil Group Limited climbed 4.6% to $1.24 after the engineering construction company secured extra work contract worth about $40 million at Gina Rinehart controlled $10 billion Roy Hill Iron Ore Project of the Pilbara region.

Animoca Brands Corporation Limited surged 22.5% to 24.5 cents after the mobile game developer said monthly active users in February reached a record number of 9.7 million players and apps reached 125 million downloads at the end month.

Whitehaven Coal Limited jumped 2.9% to $1.60 after the coal producer struck a deal to refinance $1.4 billion of debt with a maturity of July 2019.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc