Australian Market Maintains Early Slight Losses In Mid-market

(RTTNews) - The Australian stock market is maintaining its early slight losses in mid-market trading on Tuesday after alternating across the unchanged line, reversing some of the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling well below the 8,850 level, with weakness in mining stocks nearly offset by gains in financial and technology stocks.

The benchmark S&P/ASX 200 Index is losing 2.40 points or 0.03 percent to 8,821.00, after touching a high of 8,836.40 and a low of 8,816.50 earlier. The broader All Ordinaries Index is down 4.50 points or 0.05 percent to 9,022.40. Australian stocks closed notably higher on Monday.

Among the major miners, BHP Group and Fortescue are edging down 0.3 to 0.4 percent each, while Rio Tinto is losing more than 1 percent and Mineral Resources is declining almost 3 percent.

Oil stocks are mixed. Beach energy is losing almost 1 percent and Woodside Energy is edging down 0.3 percent, while Origin Energy and Santos are edging up 0.1 to 0.3 percent each.

Among tech stocks, Afterpay owner Block is gaining more than 1 percent, Zip is adding almost 2 percent, Appen is edging up 0.5 percent and Xero is up almost 1 percent, while WiseTech Global is edging down 0.2 percent.

Gold miners are mostly lower. Northern Star Resources is losing more than 3 percent, Newmont is down more than 1 percent, Evolution Mining is declining almost 4 percent, Resolute Mining is slipping more than 4 percent and Genesis Minerals is edging down 0.2 percent.

Among the big four banks, Commonwealth Bank and Westpac are gaining more than 1 percent each, while ANZ Banking and National Australia Bank are adding almost 1 percent each.

In other news, shares in Euroz Hartleys are surging more than 7 percent after agreeing to sell its Capital Markets business to Bank of Montreal's BMO Financial Group for $145 million in cash. The proceeds will be returned to shareholders.

In economic news, Australia's private sector credit rose by 0.7 percent on month in May 2026, matching the growth recorded in both March and April and slightly exceeding market expectations of a 0.6 percent rise. Annually, private sector credit grew by 8.2 percent, the largest increase since November 2022, following an 8.0 percent rise in April.

In the currency market, the Aussie dollar is trading at $0.687 on Tuesday.