Australian Market Notably Higher

(RTTNews) - The Australian stock market is trading notably higher on Friday, snapping a three-session losing streak, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,900 level, with gains in gold miners and financial stocks.

The benchmark S&P/ASX 200 Index is gaining 39.00 points or 0.44 percent to 8,924.50, after touching a high of 8,943.40 earlier. The broader All Ordinaries Index is up 40.60 points or 0.44 percent to 9,219.50. Australian stocks closed notably lower on Thursday.

Among major miners, BHP Group is edging up 0.1 percent and Rio Tinto is gaining almost 1 percent, while Mineral Resources is losing 1.5 percent and Fortescue is edging down 0.2 percent.

Oil stocks are mixed. Origin Energy is declining 2.5 percent, while Woodside Energy and Beach energy is gaining almost 1 percent each. Santos is flat. Among tech stocks, Afterpay-owner Block and Appen are losing more than 1 percent each, while Zip is edging down 0.1 percent. WiseTech Global is advancing almost 1 percent and Xero is edging up 0.4 percent.

Among the big four banks, Commonwealth Bank and Westpac are gaining more than 1 percent each, while ANZ Banking is edging up 0.1 percent and National Australia Bank is adding almost 1 percent.

Gold miners are mostly higher. Resolute Mining is edging up 0.2 percent, Evolution Mining is gaining almost 4 percent and Genesis Minerals is jumping almost 5 percent, while Northern Star Resources and Newmont are advancing more than 4 percent.

In other news, shares in Steadfast are tumbling almost 10 percent after its chief executive Robert Kelly opted to stand aside pending an investigation into allegations made against him by an employee.

Shares in Mayne Pharma Group are plummeting almost 32 percent after it was revealed the federal government could step in to block a troubled potential takeover of the company by US company Cosette Pharmaceuticals Inc. on national interest terms. In economic news, Australia's final demand Producer Price Index (PPI) jumped 1.0 percent on quarter in in the third quarter of 2025, accelerating from a 0.7 percent rise in the previous quarter and topping market estimates of a 0.8 percent increase. This marked the 21st consecutive quarter of producer price inflation and the fastest pace since the third quarter of 2024.

Australia's private sector credit rose 0.6 percent on month in September 2025, matching the pace of the previous month but exceeding market expectations of a 0.5 percent increase.

In the currency market, the Aussie dollar is trading at $0.656 on Friday.

On Wall Street, stocks moved mostly lower over the course of the trading day on Thursday, with the Dow joining the Nasdaq and the S&P 500 in negative territory after seeing some strength early in the session.

After ending Wednesday's trading at a record closing high, the tech-heavy Nasdaq showed a particularly steep drop, plunging 377.33 points or 1.6 percent to 23,581.14. The S&P 500 also slumped 68.25 points or 1.0 percent to 6,822.34, while the narrower Dow posted a more modest loss, slipping 109.88 points or 0.2 percent to 47,522.12.

Meanwhile, the major European markets showed a lack of direction over the course of the session. While the French CAC 40 Index slid by 0.5 percent, the U.K.'s FTSE 100 Index and the German DAX Index both ended the day roughly flat.

Crude oil prices moved back to the downside early in the session on Thursday but have regained ground over the course of the trading day. West Texas Intermediate crude for December delivery was down just $0.02 or less than a tenth of a percent at $60.46 per barrel.