The Australian stock market is halving its early gains in mid-market trading on Monday, extending the gains in the previous session, despite the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 8,750.00 level, with gains across most sectors led by gold miners and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 18.60 points or 0.21 percent to 8,782.80, after touching a high of 8,822.00 earlier. The broader All Ordinaries Index is up 21.10 points or 0.24 percent to 8,985.30. Australian stocks closed modestly higher on Friday.
Among the major miners, Fortescue and BHP Group are edging up 0.2 to 0.4 percent each, while Rio Tinto is edging down 0.3 percent and Mineral Resources is losing almost 2 percent.
Oil stocks are mostly higher. Beach energy, Santos and Woodside Energy are edging up 0.1 to 0.4 percent each, while Origin Energy is losing almost 1 percent.
Among tech stocks, Afterpay owner Block and WiseTech Global are surging almost 5 percent each, while Zip is soaring almost 8 percent, Appen is gaining more than 1 percent and Xero is jumping more than 6 percent.
Gold miners are mostly higher. Newmont and Resolute Mining are gaining almost 2 percent each, while Genesis Minerals is advancing almost 3 percent, Evolution Mining is adding more than 2 percent and Northern Star Resources is up almost 1 percent.
Among the big four banks, Commonwealth Bank, Westpac and National Australia Bank are gaining almost 1 percent each, while ANZ Banking is edging up 0.2 percent.
In other news, shares in Neuren Pharmaceuticals are skyrocketing more than 27 percent as its Rett syndrome drug Daybu moved a step closer to European approval after the European Medicines Agency’s Committee for Medicinal Products for Human Use recommended the treatment for marketing authorisation.
In the currency market, the Aussie dollar is trading at $0.689 on Monday.
Market Analysis
Australian Market Halves Early Gains In Mid-market
2026-06-29 03:23:57
