Australian Market Notably Higher

(RTTNews) - The Australian stock market is trading notably higher on Friday, reversing some of the sharp losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,650 level, with gains in energy, financial and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 43.80 points or 0.51 percent to 8,658.20, after touching a high of 8,666.90 earlier. The broader All Ordinaries Index is up 41.70 points or 0.47 percent to 8,836.10. Australian stocks closed sharply lower on Thursday.

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

Oil stocks are mostly higher. Woodside Energy is adding almost 2 percent, Origin Energy is edging up 0.5 percent, Santos is gaining more than 2 percent and Beach energy is advancing more than 3 percent.

Among tech stocks, Afterpay and Square-owner Block is gaining almost 1 percent, Zip is adding more than 2 percent and Appen is surging almost 6 percent, while Xero and WiseTech Global are advancing more than 4 percent each.

Among the big four banks, National Australia Bank is gaining almost 1 percent, while Commonwealth Bank, Westpac and ANZ Banking are edging up 0.2 to 0.4 percent each.

Gold miners are mixed. Northern Star Resources is gaining almost 2 percent and Genesis Minerals is edging up 0.2 percent. Newmont and Evolution Mining are edging down 0.2 to 0.3 percent each, while Resolute Mining is losing more than 1 percent.

In other news, shares in Lendlease Group are down more than 5 percent after it extended MSG North sale deadline, with possible $160 million funding required if the deal collapses.

Shares in Artrya are jumping almost 17 percent on news that the Huntsville Hospital Health System signed a five-year commercial agreement.

Shares in Data#3 are surging more than 8 percent after it provided strong earnings forecast. In the currency market, the Aussie dollar is trading at $0.692 on Friday.

Shares in Praemium are also surging more than 8 percent after the resignation of its CEO Anthony Wamsteker. On Wall Street, stocks fluctuated over the course of the trading day on Thursday following the mixed performance seen during Wednesday's session. The major averages bounced back and forth across the unchanged line before eventually closing modestly higher.

The S&P 500 rose 14.91 points or 0.2 percent to 7,666.45, while the Dow inched up 20.51 points or less than a tenth of a percent to 50,926.56 and the Nasdaq crept up 10.53 points or less than a tenth of a percent to 26,871.45.

Meanwhile, the major European markets all showed notable moves to the downside on the day. While the German DAX Index slumped by 1 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index tumbled by 1.6 percent and 1.7 percent, respectively.

Crude oil prices showed another substantial move to the upside on Thursday following reports that Chinese refiners have suspended oil product exports for October. West Texas Intermediate crude for November delivery was up $2.53 or 2.8 percent to $92.95 a barrel.