Australian Market Trims Early Losses In Mid-market

RTTNews | 11 days ago
Australian Market Trims Early Losses In Mid-market

(RTTNews) - The Australian stock market is trimming its early losses in choppy mid-market trading on Monday, after opening in the red and briefly treading in to the green, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying above the 8,900.00 level, with weakness in mining and energy stocks.

The benchmark S&P/ASX 200 Index is losing 3.80 points or 0.04 percent to 8,934.80, after hitting a low of 8,912.20 and a fresh all-time high 8,960.90 earlier. The broader All Ordinaries Index is down 1.10 points or 0.01 percent to 9,211.00. Australian stocks closed notably higher on Friday.

Among the major miners, Rio Tinto, Fortescue and BHP Group are losing almost 1 percent each, while Mineral Resources is gaining almost 1 percent.

Oil stocks are mostly lower. Santos is losing more than 1 percent, while Woodside Energy, Beach energy and Origin Energy are edging down 0.2 to 0.3 percent each. Among tech stocks, Afterpay owner Block and Zip are down almost 1 percent each, while Xero is edging down 0.2 percent. WiseTech Global is edging up 0.1 percent and Appen is gaining more than 1 percent.

Gold miners are mostly lower. Gold Road Resources is edging down 0.2 percent and Resolute Mining is losing 2.5 percent, while Northern Star Resources and Evolution Mining are losing more than 1 percent each. Newmont is edging up 0.1 percent.

Among the big four banks, National Australia Bank is advancing almost 2 percent, Westpac is edging up 0.2 percent and Commonwealth Bank is gaining almost 1 percent, while ANZ Banking is losing 1.5 percent.

In other news, shares in DigiCo Infrastructure REIT are tumbling almost 10 percent after it reported full year underlying earnings before interest, taxes, depreciation, and amortisation that missed expectations.

Shares in oOh!media are also sliding almost 10 percent after the outdoor advertising company reported that earnings came in below market expectations. Its outlook was also lower than consensus.

In the currency market, the Aussie dollar is trading at $0.652 on Monday.

read more
German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | 44 minutes ago
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | 3h 34min ago
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | 4h 3min ago
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 7h 6min ago
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 7h 50min ago
German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1
RTTNews | 8h 19min ago