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Australia’s latest labour force data has dropped and employment remains historically strong with unemployment at 3.6 per cent last month – slightly lower than in August.
Another 23,000 people were employed, although the participation rate dropped as more Australians moved into retirement.
The RBA’s next meeting is on Melbourne Cup Day – November 7 – with increasing bets on a rate rise, given this employment data and the RBA’s hawkish minutes released earlier this week.
But as employment is strong, there’s news Alcoa is considering closing its 60 year-oldKwinana alumina refinery in Western Australia. There are 1200 jobs on the line there, with 900 employees and contractors who could be impacted.
The ASX200 has shed nearly 1.5 per cent so far today, to well below 7000 points and with every sector losing ground.
Telix Pharmaceuticals (ASX:TLX) is down 10 per cent despite it revealing an interim readout from its prostate cancer drug study, for its candidate, known as TLX591.
The readout confirmed the safety and tolerability of the drug.
28 study participants received two doses, two weeks apart alongside standard prostate cancer treatments.
Enrollments are now open for the Phase III Global study next year. Telix also released its quarterly report yesterday.
TLX has been trading at $9.17.
South African-based Vanadium Resources (ASX:VR8) has increased its ownership interest in the Steelpoortdrift project in South Africa by nearly eight per cent. It now holds about 82 per cent of the project which is one of the world’s “largest undeveloped vanadium deposits”.
The company hopes to gain another 4.59 per cent before the end of the year, pending approval from the South African Reserve Bank and meeting other conditions.
VR8 has been trading at 4.7 cents.
And, BBX Minerals (ASX:BBX) has released the results from more auger drilling at its Ema rare earth elements project in the Apui region of Brazil.
Of the 11 holes drilled, eight returned REE assay results with better grades from depth. The company reported an eight-week delay for lab results, due to the amount of rare earth exploration happening in Brazil.
BBX has been trading at 2.4 cents.
