The ASX200 closed down 0.28% at 8,330 points – finishing the session at a three-week low.

Jobs data today surprised analysts, with unemployment falling to 3.9%. Now the odds of an early interest rate cut have lengthened, and the Aussie dollar jumped in response. Analysts say the labour market poses minimal inflationary risk, but the RBA remains vigilant to prevent possible rebounds in underlying inflation.

Economists have revised their predictions on rates, with the ANZ now predicting the first rate cut in May, while EY has predicted an initial cut in Q2.

Industrials was the biggest loser, down 1.1%, followed by Telecommunication, down 1%, and Industrials, down 0.75%.

Information Technology was the only substantive biggest winner, up 0.4%.

In the Green

Capstone Copper (ASX:CSC) closed up 1.6% after Citi initiated coverage with a “buy” rating, citing “positive earnings momentum” with a price target of $13.60. Feeding into Citi’s rating is its forecast of a US$10,000 per tonne copper price.

Capstone Copper closed at $10.75.

Beach Energy (ASX:BPT) closed up 9.9% on the back of a broker note by Ord Minnett reaffirming its buy rating with an improved price target of $1.80. This follows a site visit to the Perth Basin showing the execution risks at the Waitsia project have reduced significantly.

Beach Energy wrapped up at $1.33.

Orthocell (ASX:OCC) closed up 4.0% on first sales of its peripheral nerve repair device Remplir in Singapore. The company’s commercialisation efforts are progressing rapidly, seeing its product now sold in Singapore alongside Australia and New Zealand.

Orthocell closed at $1.04.

In the Red

Peter Warren Automotive (ASX:PWR) closed down 10.7% after a trading update revised first half FY25 profit before tax to be $6M to $8M. The company says challenging industry conditions caused the revision.

Peter Warren Automotive closed at $1.50.

Ventia Services Group (ASX:VNT) closed down 22.6% after responding to the ACCC’s price fixing cartel allegations. The company says its “reviewing the detail of the allegations and at this stage does not intend to comment further.”

Ventia Services Group closed at $3.33.

Downer EDI (ASX:DOW) closed down 5.9% as investors rushed for the exits in the wake of legal action by the ACCC. The allegations relate to price fixing within the company’s Spotless business.

Downer EDI closed at $5.37.