Australian Market Extends Early Losses In Mid-market
(RTTNews) - The Australian market is extending its early losses in mid-market moves on Thursday, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,900 level, with weakness in gold miner and energy stocks. Most other sectors displayed a mixed performance.
The benchmark S&P/ASX 200 Index is losing 52.00 points or 0.58 percent to 8,875.80, after hitting a low of 8,877.10 earlier. The broader All Ordinaries Index is down 62.60 points or 0.68 percent to 9,142.00. Australian stocks ended notably higher on Wednesday.
Among major miners, Rio Tinto and Mineral Resources are edging up 0.1 to 0.2 percent each, while Fortescue is down almost 1 percent and BHP Group is losing more than 2 percent.
Oil stocks are mostly lower. Santos is losing almost 1 percent and Beach energy is declining more than 1 percent, while Origin Energy and Woodside Energy are edging down 0.5 percent each.
In the tech space, Afterpay owner Block is gaining almost 3 percent and Xero is advancing more than 3 percent. WiseTech Global is losing almost 3 percent, while Zip and Appen are edging down 0.3 to 0.4 percent each.
Among the big four banks, ANZ Banking and Commonwealth Bank are gaining almost 1 percent each, while Westpac is edging down 0.3 percent. National Australia Bank is flat.
Among gold miners, Resolute Mining and Evolution Mining are edging down 0.2 percent each, while Northern Star Resources is losing almost 1 percent, Genesis Minerals is down almost 3 percent and Newmont is slipping almost 2 percent.
In the currency market, the Aussie dollar is trading at $0.698 on Thursday.
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