Australian Market Extends Early Gains In Mid-market

(RTTNews) - The Australian stock market is extending its early gains in mid-market moves on Wednesday, snapping a three-session losing streak, with the benchmark S&P/ASX 200 moving above the 9,100 level, following the broadly positive 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 105.60 points or 1.17 percent to 9,127.90, after touching a high of 9,127.90 earlier. The broader All Ordinaries Index is up 112.40 points or 1.22 percent to 9,356.70. Australian stocks ended slightly lower on Tuesday.

Among major miners, BHP Group and Fortescue are adding more than 2 percent each, while Rio Tinto is gaining almost 2 percent and Mineral Resources is advancing almost 1 percent. Oil stocks are mixed. Woodside Energy is gaining more than 1 percent, while Origin Energy, Santos and Beach energy are losing almost 1 percent each.

In the tech space, Afterpay owner Block is gaining more than 2 percent, Zip is jumping more than 9 percent, Xero is advancing more than 5 percent, Appen is soaring almost 16 percent and WiseTech Global is surging almost 11 percent.

Among the big four banks, Westpac and National Australia bank are gaining more than 1 percent each, while ANZ Banking and Commonwealth Bank are adding almost 1 percent each. Among gold miners, Evolution Mining is gaining more than 3 percent, Resolute Mining is advancing almost 4 percent, Northern Star Resources is up more than 2 percent, Newmont is adding almost 1 percent and Genesis Minerals is rising more than 1 percent.

In other news, shares in Woolworths are surging almost 12 percent after the supermarket posted upbeat first-half results. It also raised interim dividend 15.4 percent.

Shares in Helia are soaring almost 19 percent after the mortgage insurer reported upbeat results for the full year 2025. It also boosted final dividend and declared a special dividend.

In economic news, consumer prices in Australia were up a seasonally adjusted 3.8 percent on year in January, the Australian Bureau of Statistics or ABS said on Wednesday - unchanged from the December reading following an upward revision from 3.6 percent. On a seasonally adjusted monthly basis, inflation rose 0.5 percent. Trimmed mean inflation was 3.4 percent, up from 3.3% in the 12 months to December 2025. The weighted mean was steady at 3.8 percent.

The ABS also said the value of construction work done in Australia was down a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2025, the Australian Bureau of Statistics said on Wednesday - coming in at A$80.011 billion. That was well shy of expectations for an increase of 1.2 percent following the 0.7 percent decline in the previous three months. On a yearly basis, construction work was up 3.0 percent.

In the currency market, the Aussie dollar is trading at $0.708 on Wednesday.