Australian Market Trims Early Losses In Mid-market

RTTNews | 121 days ago
Australian Market Trims Early Losses In Mid-market

(RTTNews) - The Australian stock market is trimming its early losses in mid-market trading on Tuesday, but extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 7,900 level, with weakness is mining and technology stocks partially offset by gains in energy and financial stocks.

The benchmark S&P/ASX 200 Index is losing 70.40 points or 0.88 percent to 7,891.90, after hitting a low of 7,818.30 earlier. The broader All Ordinaries Index is down 87.90 points or 1.07 percent to 8,103.80. Australian stocks closed modestly higher on Monday.

Among the major miners, Mineral Resources is sliding more than 3 percent and Fortescue Metals is declining more than 1 percent, while BHP Group and Rio Tinto are edging up 0.3 to 0.4 percent each.

Oil stocks are mostly higher. Beach energy, Santos and Woodside Energy are gaining almost 1 percent each, while Origin Energy is adding more than 1 percent.

Among tech stocks, Afterpay owner Block is sliding almost 8 percent and Xero is slipping more than 5 percent, while Appen, Zip and WiseTech Global are declining more than 3 percent each.

Gold miners are mostly lower. Evolution Mining is losing almost 4 percent, Resolute Mining is declining more than 1 percent, Newmont is tumbling more than 3 percent, Gold Road Resources is slipping more than 4 percent and Northern Star resources is down almost 3 percent.

Among the big four banks, National Australia Bank is edging up 0.5 percent, while ANZ Banking and Westpac are gaining more than 1 percent each. Commonwealth Bank is edging down 0.1 percent.

In other news, shares in Star Entertainment are still under a trading halt amid financial rescue plan as US casino giant Bally's offered to buy a controlling stake in the beleaguered casino operator.

Shares in Nickel Industries are tumbling almost 18 percent after news the Indonesian government is considering a major overhaul of its mining royalty system. The company operates a portfolio of mining and downstream nickel processing assets.

Shares in PolyNovo are slipping almost 8 percent after it said chief executive Swami Raote would step down with immediate effect. In the currency market, the Aussie dollar is trading at $0.628 on Tuesday.

read more
U.S. Jobless Claims Unexpectedly Slip To 227,000

U.S. Jobless Claims Unexpectedly Slip To 227,000

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 22 minutes ago
U.S. Weekly Jobless Claims Unexpectedly Edge Lower

U.S. Weekly Jobless Claims Unexpectedly Edge Lower

First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
RTTNews | 1h 35min ago
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

Canadian shares may open on a slightly mixed note on Thursday tracking the trend in the commodity markets, and somewhat firm European stocks. The focus, once again, will be on trade negotiations between the U.S. and several other major nations.
RTTNews | 1h 37min ago
FTSE 100 Rises To Record High As Mining Stocks Rally

FTSE 100 Rises To Record High As Mining Stocks Rally

The UK stock market climbed to a new record high Thursday morning, lifted by strong gains in the mining sector. The undertone in major European markets is quite firm today amid optimism about a potential trade deal between the U.S. and the European Union.
RTTNews | 2h 46min ago
CAC 40 Moderately Higher On Trade Deal Hopes

CAC 40 Moderately Higher On Trade Deal Hopes

French stocks are gaining some ground in positive territory on Thursday amid rising hopes the European Union will strike a trade deal with the U.S. sometime soon.
RTTNews | 3h 21min ago
DAX Modestly Up After Hitting Fresh Record High

DAX Modestly Up After Hitting Fresh Record High

German stocks are up in positive territory on Thursday, extending gains from the previous three sessions, as investors continue to focus on US-EU trade negotiations. Data showing a drop in Germany's consumer price inflation in the month of June is aiding sentiment.
RTTNews | 3h 41min ago
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 4h 36min ago