Shares pare early losses after unemployment spikes

Key points

• Australian shares pared most of their early losses on Thursday after weaker-than-expected jobs data eased pressure on the Reserve Bank to raise interest rates again. The S&P/ASX200 closed down 0.09 per cent at 8719.7.
• Mining stocks fell almost four per cent as a broad commodity sell-off hit gold, silver, copper and iron ore. BHP and Rio Tinto each lost almost five per cent.
• Financials limited the overall fall, while Treasury Wine Estates rose more than four per cent after saying it would not list Penfolds separately.