The Australian stock market is trading modestly higher on Friday, extending the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,900 level, with gains across most sectors led by energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 23.90 points or 0.27 percent to 8,897.70, after touching a high of 8,901.80 earlier. The broader All Ordinaries Index is up 25.10 points or 0.27 percent to 9,174.20. Australian stocks closed notably higher on Thursday.
Among major miners, BHP Group and Rio Tinto are edging up 0.4 to 0.5 percent each, while Fortescue is gaining 1.5 percent and Mineral Resources is adding more than 1 percent.
Oil stocks are mostly higher. Santos is adding almost 1 percent, Beach energy is gaining more than 1 percent, Origin Energy is advancing almost 2 percent and Woodside Energy is edging up 0.4 percent.
Among tech stocks, Afterpay-owner Block, WiseTech Global and Xero are edging up 0.2 to 0.5 percent each, while Appen is gaining almost 2 percent. Zip is losing almost 1 percent.
Among the big four banks, Westpac is adding more than 1 percent, while National Australia Bank and ANZ Banking are gaining almost 1 percent each. Commonwealth Bank is edging down 0.2 percent.
Gold miners are mostly higher. Evolution Mining and Gold Road Resources are edging down 0.1 to 0.5 percent each, while Northern Star Resources is losing almost 1 percent. Newmont is edging up 0.4 percent and Resolute Mining is gaining more than 1 percent.
In other news, shares in Ampol are jumping almost 7 percent after it announced a $1.1 billion deal to acquire EG Australia that will add about 500 company-owned and operated (COCO) service stations to Ampol’s network.
Shares in Baby Bunting are skyrocketing more than 28 percent after its annual profit guidance for this fiscal year came in 12 percent ahead of analyst expectations.
In the currency market, the Aussie dollar is trading at $0.650 on Friday.
On Wall Street, stocks showed a lack of direction over the course of the trading session on Thursday after recovering from an early move to the downside. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed.
While the S&P 500 crept up 1.96 points or less than a tenth of a percent to a new record closing high of 6,468.54, the Nasdaq edged down 2.47 points or less than a tenth of a percent to 21,710.67 and the Dow slipped 11.01 points or less than a tenth of a percent to 44,911.26.
Meanwhile, the major European markets moved to the upside on the day. While the U.K.’s FTSE 100 Index inched up by 0.1 percent, the French CAC 40 Index and the German DAX Index both advance by 0.8 percent.
Crude oil prices jumped on Thursday ahead of a crucial meeting between the U.S. and Russian President’s later today in Alaska to discuss ways to end the Russia-Ukraine war. West Texas Intermediate crude for September delivery was up $1.32 or 2.11 percent at $63.97 per barrel.
Market Analysis
Australian Market Modestly Higher
2025-08-15 01:23:19
