Australian Market Slightly Trims Early Gains In Mid-market

(RTTNews) - The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks. The benchmark S&P/ASX 200 Index is gaining 16.30 points or 0.19 percent to 8,413.20, after touching a high of 8,427.30 earlier. The broader All Ordinaries Index is up 16.40 points or 0.19 percent to 8,641.30. Australian stocks ended slightly lower on Wednesday.

Among major miners, BHP Group is edging down 0.4 percent, Rio Tinto is losing almost 1 percent, while Mineral Resources and Fortescue Metals are gaining almost 1 percent each.

Oil stocks are mostly higher. Santos is adding more than 1 percent, Origin Energy is gaining almost 1 percent, Woodside Energy is advancing more than 3 percent and Beach energy is up 1.5 percent.

In the tech space, Afterpay owner Block is advancing almost 3 percent, Appen is gaining more than 3 percent and Xero is edging up 0.3 percent, while WiseTech Global and Zip are adding almost 1 percent each.

Among the big four banks, Westpac and National Australia Bank are gaining almost 1 percent each, while ANZ Banking is edging down 0.2 percent. Commonwealth Bank is flat.

Among gold miners, Northern Star Resources is edging down 0.5 percent, Newmont is losing almost 1 percent and Resolute Mining is declining more than 3 percent. Evolution Mining is gaining 1.5 percent and Gold Road Resources is edging up 0.3 percent.

In the currency market, the Aussie dollar is trading at $0.642 on Thursday.