Australian Market Extends Early Gains In Mid-market

(RTTNews) - The Australian stock market is extending its early gains in mid-market moves on Wednesday, recouping some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 staying well below the 8,200 level, despite the broadly negative cues from Wall Street overnight, with gains across most sectors led by mining and technology stocks. The benchmark S&P/ASX 200 Index is gaining 15.40 points or 0.19 percent to 8,166.80, after touching a high of 8,179.80 earlier. The broader All Ordinaries Index is up 15.10 points or 0.18 percent to 8,384.40. Australian stocks ended slightly lower on Tuesday.

Among major miners, BHP Group, Fortescue Metals and Rio Tinto are gaining almost 2 percent each, while Mineral Resources is soaring more than 9 percent.

Oil stocks are mostly higher. Woodside Energy, Beach energy and Santos are gaining more than 2 percent each, while Origin Energy is adding almost 1 percent.

In the tech space, Afterpay owner Block is gaining almost 3 percent, Appen is surging 7.5 percent and Zip is soaring more than 10 percent, while WiseTech Global is losing almost 1 percent and Xero is edging down 0.5 percent.

Among the big four banks, Commonwealth Bank and ANZ Banking is edging up 0.1 to 0.4 percent each, while National Australia Bank is adding almost 2 percent. Westpac is losing more than 1 percent.

Among gold miners, Evolution Mining is gaining almost 1 percent, Resolute Mining is advancing almost 4 percent and Gold Road Resources is edging up 0.5 percent, while Newmont is edging down 0.2 percent and Northern Star Resources is losing more than 1 percent.

In other news, shares in Nuix are tumbling more than 15 percent after withdrawing full-year guidance for revenue growth and underlying cash flow as it said customers were holding off committing to new IT contracts.

Shares in Boss Energy are surging more than 10 percent after telling investors at the Macquarie Australia conference it was well-positioned to benefit from a rising triuranium octoxide price.

In the currency market, the Aussie dollar is trading at $0.649 on Wednesday.