Australian Market Modestly Higher

RTTNews | 900 days ago
Australian Market Modestly Higher

(RTTNews) - The Australian stock market is modestly higher on Thursday, extending the slight gains in the previous session, with the benchmark S&P/ASX 200 moving above the 7,400 level to a nine-month high, despite the broadly negative cues from Wall Street overnight, with gains in miners partially offset by weakness in technology and energy stocks.

The benchmark S&P/ASX 200 Index is gaining 20.10 points or 0.27 percent to 7,413.50, after touching a high of 7,421.10 earlier. The broader All Ordinaries Index is up 15.50 points or 0.20 percent to 7,625.00. Australian stocks ended slightly higher on Wednesday.

Among major miners, Rio Tinto is gaining almost 2 percent, while Fortescue Metals and BHP Group are adding almost 1 percent. Mineral Resources is edging down 0.5 percent and OZ Minerals is flat.

BHP reported that second-quarter total iron ore production increased 1 percent to 66.90 million tonnes from the prior year. However, 2023 total iron ore production guidance remains unchanged.

Oil stocks are mostly lower. Beach energy is edging down 0.3 percent, Woodside Energy is losing almost 2 percent, Santos is slipping more than 2 percent and Origin Energy is down more than 1 percent.

In the tech space, Afterpay owner Block is losing more than 3 percent, Xero is slipping more than 1 percent, Zip is slipping more than 5 percent, Appen is declining almost 2 percent and WiseTech Global is down almost 1 percent.

Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are edging up 0.1 to 0.4 percent each, while National Australia Bank is edging down 0.1 percent. Among gold miners, Northern Star Resources is edging up 0.3 percent, while Newcrest Mining and Evolution Mining are losing almost 1 percent each. Resolute Mining and Gold Road Resources are flat.

In the currency market, the Aussie dollar is trading at $0.692 on Thursday.

On Wall Street, stocks saw initial strength during trading on Wednesday but moved sharply lower over the course of the session. The major averages all showed notable moves to the downside after ending Tuesday's trading mixed.

The major averages fell to new lows for the session going into the close of trading. The Dow plunged 613.89 points or 01.8 percent to 33,296.96, the Nasdaq slumped 138.10 points or 1.2 percent to 10,957.01 and the S&P 500 tumbled 62.11 points or 1.6 percent to 3,928.86.

Meanwhile, the major European markets turned in a mixed performance on the day. While the French CAC 40 Index inched up by 0.1 percent, the German DAX Index closed just below the unchanged line and the U.K.'s FTSE 100 Index dipped by 0.3 percent.

Crude oil futures settled lower on Wednesday amid concerns about a possible U.S. recession. West Texas Intermediate Crude oil futures for February ended lower by $0.70 or 0.9 percent at $79.48 a barrel.

read more
Japan Stock Market May Be Stuck In Neutral On Monday

Japan Stock Market May Be Stuck In Neutral On Monday

The Japanese stock market has moved higher in two straight sessions, advancing almost 50 points or 0.2 percent along the way. The Nikkei 225 now sits just above the 39,810-point plateau although it may spin its wheels on Monday.
RTTNews | 20 minutes ago
KOSPI May Extend Friday's Losses

KOSPI May Extend Friday's Losses

The South Korea stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had picked up almost 35 points or 1.2 percent. The KOSPI now sits just above the 3,050-point plateau and it may open under pressure again on Monday.
RTTNews | 35 minutes ago
Japan Leading Index Data Due On Monday

Japan Leading Index Data Due On Monday

Japan will on Monday see preliminary May results for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity.
RTTNews | 1h 35min ago
TSX Settles Roughly Flat

TSX Settles Roughly Flat

The Canadian stock market ended flat on Friday, amid uncertainty on US-Canada trade deal even as July 9 deadline set by the US President for tariff agreement is fast approaching.
RTTNews | 1 day ago
Swiss Market Ends Slightly Down

Swiss Market Ends Slightly Down

After languishing in negative territory till a little before the final hour of the day's trading session, the Switzerland market managed to emerge into positive zone on Friday but failed to hold firm and eventually settled with a marginal loss.
RTTNews | 2 days ago
TSX Up Marginally After Posting New Record High

TSX Up Marginally After Posting New Record High

The Canadian market is up marginally a little past noon on Friday with investors largely making cautious moves on weak private sector activity report, and amid uncertainty about Trump administration's tariff moves.
RTTNews | 2 days ago