Australian Market Trims Early Slight Losses In Mid-market

(RTTNews) - The Australian stock market is trimming its early slight losses in mid-market trading on Monday, snapping a four-session losing streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 8,750.00 level, with gains in energy, financial and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 7.00 points or 0.08 percent to 8,748.20, after hitting a low of 8,734.00 and a high of 8,768.30 earlier. The broader All Ordinaries Index is up 3.90 points or 0.04 percent to 8,924.10. Australian stocks closed significantly lower on Friday.

Among the major miners, Fortescue is edging up 0.4 percent, while Mineral Resources is declining almost 2 percent, BHP Group is losing almost 1 percent and Rio Tinto is edging down 0.1 percent.

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

Among tech stocks, Afterpay owner Block and WiseTech Global are edging up 0.3 to 0.4 percent each, while Xero is gaining almost 3 percent. Zip is edging down 0.2 percent. Appen is flat.

Gold miners are mostly higher. Genesis Minerals is adding almost 1 percent, while Northern Star Resources and Newmont are gaining more than 1 percent each. Evolution Mining is losing almost 3 percent and Resolute Mining is slipping more than 1 percent.

Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are edging up 0.3 to 0.5 percent each, while National Australia Bank is losing almost 1 percent.

In other news, shares in FleetPartners are soaring almost 10 percent after granting SG Fleet, ORIX, and the Sumitomo Consortium access to a deeper phase of due diligence to refine their takeover offers.

In the currency market, the Aussie dollar is trading at $0.715 on Monday.