Australian shares rally as jobless rate hits 4.7 percent, easing rate hike
Australian shares recovered from early losses after unemployment rose to 4.7 percent, its highest in nearly five years, with 39,000 jobs shed in September. The data eased rate-hike concerns, prompting banks like CBA and ANZ to surge alongside retailers Coles and Woolworths. Mining stocks BHP and Rio Tinto fell while the Australian dollar weakened to 69.5 US cents.
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Published 15 Oct 2026, 06:19 UTC · Updated 15 Oct 2026, 06:20 UTC
Summary by OZbrief Editorial. Original report: 7 News. Editorial policy · Corrections
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