Australian Market Relatively Flat In Mid-market

(RTTNews) - The Australian stock market is relatively flat in mid-market trading on Tuesday after alternating across the unchanged line, after the gains in the previous session. The benchmark S&P/ASX 200 index is staying above the 8,400.00 level, with gains in iron ore miners and financial stocks partially offset by weakness in gold miners, energy and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 3.50 points or 0.04 percent to 8,412.40, after touching a high of 8,427.10 and a low of 8,386.50 earlier. The broader All Ordinaries Index is down 3.10 points or 0.04 percent to 8,657.30. Australian stocks closed modestly higher on Friday ahead of the holiday on Monday.

Among the major miners, BHP Group and Fortescue Metals are gaining almost 1 percent each, while Rio Tinto and Mineral Resources are edging down 0.2 to 0.4 percent each.

Oil stocks are mostly lower. Origin Energy is losing almost 2 percent, while Woodside Energy and Santos are edging down 0.1 to 0.5 percent each. Beach energy is edging up 0.1 percent.

Among tech stocks, Zip and WiseTech Global are losing more than 1 percent each, while Appen is declining 3.5 percent. Xero is gaining almost 1 percent. Afterpay owner Block is flat.

Gold miners are mostly lower. Gold Road Resources is losing almost 5 percent, Newmont is down almost 1 percent, Northern Star resources is declining 2.5 percent and Evolution Mining is edging down 0.5 percent, while Resolute Mining is gaining almost 1 percent.

Among the big four banks, Westpac, ANZ Banking and National Australia Bank are adding more than 1 percent each, while Commonwealth Bank is gaining almost 1 percent.

In other news, shares in Nuix are plummeting almost 17 percent after the software provider said it would post a drop in underlying earnings in the half-year to December, hurt by project delays and acceptance of more complex contracts.

Shares in Telix Pharmaceuticals are surging more than 4 percent after completing its buyout of US-listed RLS Radiopharmacies for $230 million.

In the currency market, the Aussie dollar is trading at $0.626 on Tuesday.