Australian Market Trims Gains In Mid-market
(RTTNews) - The Australian stock market is trimming its gains in mid-market trading on Wednesday, but extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving well above the 8,400 level, following the broadly positive cues from global markets overnight, with gains in financial and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 35.60 points or 0.42 percent to 8,438.00, after touching a high of 8,455.60 earlier. The broader All Ordinaries Index is up 36.30 points or 0.42 percent to 8,689.00. Australian stocks ended significantly higher on Tuesday.
Among major miners, BHP Group is declining more than 1 percent, while Mineral Resources, Rio Tinto and Fortescue Metals are losing almost 1 percent each.
Oil stocks are mixed. Woodside Energy is losing almost 2 percent and Santos is edging down 0.5 percent, while Origin Energy is gaining more than 1 percent and Beach energy is edging up 0.2 percent.
In the tech space, WiseTech Global, Appen and Xero are gaining almost 2 percent each, while Zip is adding almost 1 percent. Afterpay owner Block is flat.
Among the big four banks, Commonwealth Bank, National Australia Bank and Westpac are gaining almost 1 percent each, while ANZ Banking is edging up 0.3 percent.
Among gold miners, Evolution Mining is gaining more than 2 percent, while Northern Star Resources and Gold Road Resources are edging up 0.1 to 0.4 percent each. Resolute Mining and Newmont are flat.
In the currency market, the Aussie dollar is trading at $0.627 on Wednesday.
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