Australian Market Extends Early Gains In Mid-market

(RTTNews) - The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks. The benchmark S&P/ASX 200 Index is gaining 63.80 points or 0.75 percent to 8,602.40, after touching a high of 8,602.70 earlier. The broader All Ordinaries Index is up 61.20 points or 0.61 percent to 8,839.10. Australian stocks ended notably lower on Wednesday.

Among major miners, BHP Group is edging up 0.5 percent, Rio Tinto is gaining almost 1 percent and Fortescue Metals is adding more than 1 percent, while Mineral Resources is edging down 0.3 percent.

Oil stocks are mostly higher. Beach energy is gaining almost 1 percent. Origin Energy is losing almost 1 percent, while Woodside Energy and Santos are edging down 0.1 percent each.

In the tech space, Afterpay owner Block is adding more than 2 percent, while Xero is down almost 1 percent, WiseTech Global is edging down 0.4 percent, Zip is declining almost 2 percent and Appen is losing more than 1 percent.

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

Among gold miners, Northern Star Resources and Gold Road Resources are gaining almost 1 percent each, while Resolute Mining, Evolution Mining and Newmont are adding almost 3 percent each. In the currency market, the Aussie dollar is trading at $0.654 on Thursday.