Australian Market Doubles Early Gains In Mid-market

RTTNews | 25 days ago
Australian Market Doubles Early Gains In Mid-market

(RTTNews) - The Australian stock market is doubling its early gains in mid-market moves on Friday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,700 level, with gains across all sectors led by technology and mining stocks.

The benchmark S&P/ASX 200 Index is gaining 110.20 points or 1.28 percent to 8,749.20, after touching a high of 8,754.60 earlier. The broader All Ordinaries Index is up 106.80 points or 1.20 percent to 8,997.60. Australian stocks closed significantly higher on Thursday.

Among major miners, BHP Group is gaining more than 2 percent and Mineral Resources is advancing 4.5 percent, while Fortescue Metals and Rio Tinto are adding almost 1 percent each.

In a fourth quarter and full year update, BHP reported production growth across all key commodities in the fourth quarter and record iron ore and copper production for the full year.

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

Among tech stocks, Afterpay-owner Block and Appen are gaining almost 3 percent each, while Zip is advancing almost 5 percent and Xero is adding almost 1 percent. WiseTech Global is flat.

Among the big four banks, National Australia Bank, ANZ Banking and Westpac are edging up 0.2 to 0.5 percent each, while Commonwealth Bank is edging down 0.2 percent.

Gold miners are mostly higher. Northern Star Resources, Gold Road Resources, Evolution Mining and Newmont are edging up 0.2 to 0.5 percent each, while Resolute Mining is losing almost 1 percent.

In the currency market, the Aussie dollar is trading at $0.651 on Friday.

read more
German ZEW Economic Confidence Deteriorates On Trade Deal

German ZEW Economic Confidence Deteriorates On Trade Deal

Economic sentiment in Germany deteriorated sharply in August due to the disappointing trade agreement reached with the United States, and also due to the declining economic output in the second quarter, results of the monthly survey conducted by the think tank ZEW showed on Tuesday. The ZEW Indicator of Economic Sentiment plummeted to a three-month low of 34.7 in August.
RTTNews | 58 minutes ago
Bay Street Likely To Open Flat Or Slightly Higher

Bay Street Likely To Open Flat Or Slightly Higher

The Canadian market is likely to open on a flat to slightly positive note Tuesday morning, amid easing trade concerns following the U.S. government extending its pause on higher tariffs for Chinese goods until November 10, averting an immediate escalation in the trade war.
RTTNews | 1h 0min ago
CAC 40 Up Marginally In Cautious Trade

CAC 40 Up Marginally In Cautious Trade

The French market is slightly higher on Tuesday with stocks turning in a mixed performance as investors weigh the potential impact of tariffs. The decision of the U.S. government to extend its pause on higher tariffs for Chinese goods until November 10 is aiding sentiment a bit.
RTTNews | 2h 28min ago
Pound Rises On Upbeat U.K. Employment Data

Pound Rises On Upbeat U.K. Employment Data

The British pound strengthened against other major currencies in the European session on Tuesday, following the release of the upbeat United Kingdom (UK) labor market data for the three-months ending June.
RTTNews | 2h 49min ago