Australian Market Trims Early Losses In Mid-market

(RTTNews) - The Australian market is trimming its early losses in mid-market moves on Thursday, but extending the losses in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness across most sectors led by gold miners and technology stocks.

The benchmark S&P/ASX 200 Index is losing 64.60 points or 0.74 percent to 8,720.50, after hitting a low of 8,700.50 earlier. The broader All Ordinaries Index is down 59.80 points or 0.67 percent to 8,919.50. Australian stocks ended significantly lower on Wednesday.

Among major miners, BHP Group and Fortescue are declining more than 1 percent each, while Rio Tinto is losing almost 4 percent and Mineral Resources is edging down 0.5 percent.

Oil stocks are mostly higher. Beach energy is edging up 0.2 percent and Santos is gaining almost 1 percent, while Woodside Energy and Origin Energy are adding more than 1 percent each.

In the tech space, Afterpay owner Block and Xero are losing more than 1 percent each, while Appen is slipping almost 2 percent, Zip is down almost 1 percent and WiseTech Global is declining more than 2 percent.

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

Among gold miners, Newmont is losing more than 2 percent, Northern Star Resources is slipping more than 3 percent, Genesis Minerals is down more than 1 percent, Evolution Mining is declining almost 3 percent and Resolute Mining is sliding almost 4 percent.

In other news, shares in Fletcher Building are surging more than 5 percent after it raised FY26 profit guidance as quarterly volumes rise, flagged caution for early FY27.

In the currency market, the Aussie dollar is trading at $0.693 on Thursday.