The ASX has retreated from its record high reached earlier in the session, following Australian employment data that fell short of expectations.
The S&P/ASX 200 Index is currently up 0.9 percent near midday, having been as high as 1.2 percent before the data was announced.
Australian employment rose by 51,600 in September, following a gain of 47,500 the previous month, while the unemployment rate came in at 4.1 percent. Analysts had anticipated the creation of 25,200 jobs and an unemployment rate remaining steady at 4.2 percent.
This news has dampened the rally in real estate stocks that occurred earlier in the session. The sector is now up 1.8 percent, a decline from more than 2 percent higher prior to the data release.
At 11:50am, the S&P/ASX 200 is 0.85 per cent higher at 8,355.20.
The SPI futures are pointing to a rise of 59 points.
Best and worst performers
The best-performing sector is REITs, up 1.76 per cent. The worst-performing sector is Information Technology, down 0.99 per cent.
The best-performing large cap is South32 (ASX:S32), trading 3.95 per cent higher at $3.815. It is followed by shares in Incitec Pivot (ASX:IPL) and QBE Insurance Group (ASX:QBE).
The worst-performing large cap is WiseTech Global (ASX:WTC), trading 4.09 per cent lower at $125.53. It is followed by shares in Mercury NZ (ASX:MCY) and Technology One (ASX:TNE).
Commodities and the dollar
Gold is trading at US$2692.70 an ounce.
Iron ore is 0.8 per cent lower at US$104.40 a tonne.
Iron ore futures are pointing to a 0.1 per cent fall.
One Australian dollar is buying 66.94 US cents.
