Australian Market Turns To Green In Mid-market

(RTTNews) - The Australian stock market turns to green in mid-market trading on Wednesday after opening in the red, extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,500 level, following the mixed cues from Wall Street overnight, with gains in energy and financial stocks partially offset by weakness in mining and technology stocks. The benchmark S&P/ASX 200 Index is gaining 28.30 points or 0.33 percent to 8,512.30, after hitting a low of 8,469.70 and a high of 8,513.50 earlier. The broader All Ordinaries Index is up 24.60 points or 0.28 percent to 8,776.20. Australian stocks ended slightly higher on Tuesday.

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

Oil stocks are mostly higher. Woodside Energy, Beach energy and Santos are gaining almost 1 percent each, while Origin Energy is edging up 0.4 percent.

In the tech space, Afterpay owner Block is slipping 2.5 percent and Xero is declining more than 2 percent, while WiseTech Global and Appen are losing almost 1 percent each. Zip is gaining almost 3 percent.

Among the big four banks, Commonwealth Bank is gaining almost 2 percent, while National Australia Bank and Westpac are adding more than 1 percent each. ANZ Banking is flat.

Among gold miners, Resolute Mining is declining more than 4 percent, Newmont is losing almost 2 percent, Northern Star Resources is edging down 0.4 percent and Gold Road Resources is down almost 1 percent, while Evolution Mining is gaining 1.5 percent.

In other news, shares in Bravura Solutions are skyrocketing more than 21 percent after the wealth management tech provider announced a special dividend, due to a turnaround in financial performance.

Shares in Computershare are soaring more than 14 percent after the company posted a 28 percent increase in management earnings to $171.2 million in the first half of fiscal 2025, and raised its dividend.

Shares in Amotiv are tumbling almost 9 percent after the automotive parts supplier reported down beat results for the first half of fiscal 2025, as margins fell due to acquisitions, and higher freight costs.

In the currency market, the Aussie dollar is trading at $0.629 on Wednesday.