Australian Market Swings To Gains In Mid-market

(RTTNews) - The Australian market is swinging to gains in mid-market moves on Thursday after alternating across the unchanged line, recouping 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 above the 8,750 level, with gains in energy stocks and a mixed performance across most other sectors.

The benchmark S&P/ASX 200 Index is gaining 21.20 points or 0.24 percent to 8,785.70, after hitting a low of 8,737.90 and a high of 8,785.20 earlier. The broader All Ordinaries Index is up 16.30 points or 0.18 percent to 9,073.90. Australian stocks ended significantly lower on Wednesday.

Among major miners, Rio Tinto and BHP Group are advancing more than 3 percent each, while Mineral Resources is edging up 0.4 percent. Fortescue is edging down 0.2 percent.

Oil stocks are mostly higher. Beach energy is advancing almost 3 percent, Woodside Energy is adding more than 2 percent, Origin Energy is edging up 0.1 percent and Santos is gaining almost 1 percent.

In the tech space, Afterpay owner Block is gaining more than 1 percent and Appen is adding almost 3 percent, while WiseTech Global, Xero and Zip are edging down 0.1 to 0.5 percent each.

Among the big four banks, Westpac is gaining more than 1 percent, while National Australia Bank and ANZ Banking are edging up 0.4 to 0.5 percent each. Commonwealth Bank is losing almost 1 percent.

Among gold miners, Gold Road Resources is edging up 0.1 percent and Evolution Mining is gaining almost 1 percent, while Northern Star Resources is losing almost 1 percent and Resolute Mining is declining more than 1 percent. Newmont is flat.

In the currency market, the Aussie dollar is trading at $0.659 on Thursday.