Australian Market Extends Early Losses In Mid-market
(RTTNews) - The Australian stock market is extending its early losses in mid-market trading on Tuesday, adding to the slight losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling below the 8,800 level, with weakness in gold miners and energy stocks.
The benchmark S&P/ASX 200 Index is losing 31.30 points or 0.35 percent to 8,799.70, after hitting a low of 8,790.30 earlier. The broader All Ordinaries Index is down 33.30 points or 0.37 percent to 9,003.70. Australian stocks closed slightly lower on Monday.
Among the major miners, Fortescue is edging up 0.5 percent, while Mineral Resources and Rio Tinto are losing almost 1 percent each. BHP Group is flat.
Oil stocks are mostly lower. Beach energy is losing almost 1 percent and Origin Energy is slipping almost 2 percent, while Woodside Energy and Santos are declining more than 1 percent each.
Among tech stocks, Afterpay owner Block and Appen are edging down 0.3 to 0.5 percent each, while Zip is edging up 0.2 percent, WiseTech Global is surging more than 5 percent and Xero is gaining more than 1 percent.
Gold miners are mostly lower. Evolution Mining and Resolute Mining are losing more than 3 percent each, while Northern Star Resources is slipping almost 3 percent, Newmont is down almost 1 percent and Genesis Minerals are declining more than 1 percent.
Among the big four banks, Commonwealth Bank and Westpac are edging up 0.1 to 0.2 percent each, while ANZ Banking and National Australia Bank are flat.
In the currency market, the Aussie dollar is trading at $0.695 on Tuesday.
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