Australian Market Slightly Higher In Mid-market After Early Losses

(RTTNews) - The Australian stock market is slightly higher in mid-market trading on Tuesday after early losses, reversing some of the losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,200 level, with strong gains in gold miners nearly offset by weakness in iron ore miners, financial and some technology stocks.

The benchmark S&P/ASX 200 Index is gaining 3.80 points or 0.05 percent to 8,161.60, after hitting a low of 8,138.40 and a high of 8,168.90 earlier. The broader All Ordinaries Index is up 5.40 points or 0.06 percent to 8,379.40. Australian stocks closed significantly lower on Monday.

Among the major miners, BHP Group, Fortescue Metals and Rio Tinto are edging down 0.2 to 0.4 percent each, while Mineral Resources is gaining more than 1 percent.

Oil stocks are mixed. Origin Energy is losing almost 1 percent, while Beach energy is gaining more than 2 percent and Santos is up almost 1 percent. Woodside Energy is flat.

Among tech stocks, Afterpay owner Block is gaining more than 1 percent and Zip is adding almost 1 percent, while WiseTech Global is declining more than 3 percent, Appen is losing more than 2 percent and Xero is down more than 1 percent.

Gold miners are mostly higher. Evolution Mining is advancing almost 6 percent, Gold Road Resources is up almost 2 percent, Northern Star resources is gaining more than 3 percent, Newmont is adding almost 3 percent and Resolute Mining is surging almost 8 percent.

Among the big four banks, National Australia Bank is losing almost 2 percent, Westpac is down more than 2 percent, ANZ Banking is slipping more than 1 percent and Commonwealth Bank is declining almost 1 percent.

In other news, shares in Skycity Entertainment Group are plunging more than 5 percent after the gambling company downgraded its full-year 2025 earnings guidance.

Shares in NextDC are climbing almost 8 percent after an operation update showed new customer contract wins at the AI-fuelled data centre operator.

In the currency market, the Aussie dollar is trading at $0.645 on Tuesday.