Australian Market Extends Early Gains In Mid-market
(RTTNews) - The Australian market is extending its early gains in mid-market moves on Thursday, reversing to the losses in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,550 level, with gains across most sectors led by technology stocks. Energy stocks were the only weak spot amid tumbling crude oil prices.
The benchmark S&P/ASX 200 Index is gaining 111.70 points or 1.32 percent to 8,559.60, after touching a high of 8,561.00 earlier. The broader All Ordinaries Index is up 109.90 points or 1.38 percent to 8,841.30. Australian stocks ended modestly lower on Wednesday.
Among major miners, BHP Group is gaining almost 1 percent and Mineral Resources is advancing almost 3 percent, while Rio Tinto and Fortescue are adding 1.5 percent each.
Oil stocks are mostly lower. Beach energy is losing more than 1 percent and Origin Energy is declining almost 2 percent, while Santos and Woodside Energy are down almost 1 percent each.
In the tech space, Afterpay owner Block is jumping more than 12 percent, Appen is surging almost 5 percent, Zip is soaring more than 6 percent, Xero is advancing almost 4 percent and WiseTech Global is adding more than 4 percent.
Among the big four banks, ANZ Banking is adding almost 1 percent, while National Australia Bank, Westpac and Commonwealth Bank are gaining more than 1 percent each.
Among gold miners, , Resolute Mining is surging more than 4 percent, Newmont is gaining more than 1 percent, Genesis Minerals is adding almost 4 percent Northern Star Resources and Evolution Mining are advancing more than 3 percent each.
In the currency market, the Aussie dollar is trading at $0.648 on Thursday.
New York Manufacturing Index Pulls Back Sharply But Remains Positive
New York Manufacturing Index Slumps Much More Than Expected In September
Bay Street Likely To Open On Slightly Weak Note
Yen Falls Against Majors
FTSE 100 Recovers Despite Weak UK Jobs Data, Oil Concerns
Rising Oil Prices, Inflation Push CAC 40 To 4-Month Trough
German ZEW Economic Sentiment Improves Moderately
