The S&P/ASX 200 settled 0.5 per cent higher at 7,058.6, its best finish since Feb. 21 last year. Mining and energy stocks led the rebound from a 0.5 per cent drop in early trade.
Data showed unemployment dropped to a one-year low and the number of people in work surpassed its pre-pandemic peak, a big positive for consumer spending and confidence.
“The Australian economy is in a pretty good place at the moment and the employment data certainly got the market back into positive territory,” said Henry Jennings, a senior analyst at Marcustoday Financial Newsletter.
Mining stocks stood out, taking cues from Chinese coke futures that hit a near six-week high on Wednesday after some major coking plants sought to raise spot prices.
BHP jumped 2.9 per cent, while Rio Tinto surged 3 per cent. However, Whitehaven, Australia’s largest independent coal miner, plunged as much as 16.8 per cent after it trimmed its annual managed coal sales forecast for the second time in two months.
Energy stocks closed 1.37 per cent higher as oil prices held around one-month highs after a near 5 per cent jump in the previous session.
Ampol climbed as much as 6.4 per cent after the fuel supplier reported a first-quarter profit compared to a loss a year earlier.
Gold stocks tumbled 2.36 per cent in their worst session in six weeks as bullion prices slipped overnight.
Newcrest, the country’s biggest gold miner, skidded as much as 2.4 per cent.
In New Zealand, the benchmark S&P/NZX 50 gave up all gains from the previous session to close 0.9 per cent lower at 12,636.6. ($1 = 1.2965 Australian dollars)
