Australian Market Slips To Modest Losses In Mid-market
(RTTNews) - The Australian stock market is slipping to modest losses in mid-market moves on Friday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below 8,750 level, with weakness in technology stocks partially offset gains in mining and energy stocks.
The benchmark S&P/ASX 200 Index is losing 17.40 points or 0.20 percent to 8,731.30, after touching a high of 8,774.50 and a low of 8,725.80 earlier. The broader All Ordinaries Index is down 23.40 points or 0.26 percent to 8,928.20. Australian stocks closed notably lower on Thursday.
Among major miners, Rio Tinto is adding more than 1 percent, while Mineral Resources, Fortescue and BHP Group is edging up 0.2 to 0.3 percent each.
Oil stocks are mostly higher. Beach energy is gaining more than 2 percent, while Woodside Energy and Santos are adding almost 1 percent each. Origin Energy is edging down 0.2 percent.
Among tech stocks, Afterpay and Square-owner Block is slipping almost 3 percent, Zip is tumbling almost 4 percent, WiseTech Global is declining almost 2 percent, Appen is losing more than 3 percent and Xero is edging down 0.1 percent.
Among the big four banks, Commonwealth Bank and National Australia Bank are edging down 0.2 to 0.4 percent each, while Westpac and ANZ Banking are edging up 0.2 to 0.3 percent each.
Gold miners are mostly higher. Evolution Mining, Resolute Mining, Newmont and Northern Star Resources are gaining more than 1 percent each, while Genesis Minerals is losing almost 1 percent.
In the currency market, the Aussie dollar is trading at $0.688 on Friday.
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