Australian Market Maintains Early Gains In Mid-market
(RTTNews) - The Australian stock market is maintaining its early gains in mid-market trading on Tuesday, snapping a five-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,550 level, with gains in mining, financial and technology stocks partially offset by weakness in energy stocks amid tumbling crude oil prices.
The benchmark S&P/ASX 200 Index is gaining 81.00 points or 0.96 percent to 8,555.90, after touching a high of 8,574.00 earlier. The broader All Ordinaries Index is up 84.80 points or 0.98 percent to 8,772.80. Australian stocks closed slightly lower on Monday.
Among the major miners, BHP Group is gaining more than 2 percent, Rio Tinto is rising almost 3 percent, Fortescue Metals is advancing more than 3 percent and Mineral Resources is adding almost 2 percent.
Oil stocks are mostly lower. Origin Energy is losing 2.5 percent, Beach energy is sliding 3.5 percent, Woodside Energy is tumbling more than 7 percent and Santos is down more than 1 percent.
Among tech stocks, Afterpay owner Block is up almost 1 percent, Xero is adding more than 1 percent, Zip is surging more than 6 percent, WiseTech Global is gaining almost 4 percent and Appen is jumping almost 8 percent.
Gold miners are mixed. Evolution Mining is gaining almost 2 percent, Resolute Mining is adding almost 1 percent and Gold Road Resources is edging up 0.2 percent, while Northern Star resources and Newmont are edging down 0.4 percent each.
Among the big four banks, Commonwealth Bank and National Australia Bank are gaining almost 2 percent each, while Westpac is adding almost 3 percent and ANZ Banking is up more than 1 percent.
In other news, shares in Collins Foods are skyrocketing almost 19 percent after the KFC operator reported better-than-expected results for the full-year 2025. However, it cut dividend by 7% due to a decline in profit.
In the currency market, the Aussie dollar is trading at $0.648 on Tuesday.
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