The ASX 200 lost 41 points or 0.67% to 6091 on Thursday as data revealed that Australian unemployment rose to the highest since November 1998. Sour earnings from telecommunications giant Telstra also dented sentiment, reporting 14.4% decline in profits as the coronavirus pandemic and the national bushfire crisis put pressure on the company. Meantime, Australia added 231 new cases, with Victoria posting its lowest single-day rise in new coronavirus infections in more than three weeks. In other local data, inflation expectations in Australia increased to 3.3% in August from 3.2% in July of 2020.
Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 7199.79 in February of 2020. Australia S&P/ASX 200 Stock Market Index - data, forecasts, historical chart - was last updated on August of 2020.
The Australia S&P/ASX 200 Stock Market Index is expected to trade at 6012.49 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5693.50 in 12 months time.