The Australian stock market is trimming its early gains in mid-market trading on Monday, reversing some of the losses in the previous session, despite the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 9,000.00 mark, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 10.90 points or 0.12 percent to 9,016.80, after touching a high of 9,044.50 earlier. The broader All Ordinaries Index is up 10.00 points or 0.11 percent to 9,206.00. Australian stocks closed modestly lower on Friday.
Among the major miners, Fortescue is advancing more than 2 percent and Mineral Resources is adding almost 1 percent, while BHP Group and Rio Tinto are gaining almost 2 percent each.
Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent, while Origin Energy is losing almost 1 percent. Beach energy is flat.
Among tech stocks, Afterpay owner Block and Appen are losing almost 1 percent each, while WiseTech Global is declining almost 4 percent, Zip is slipping more than 1 percent and Xero is sliding more than 2 percent.
Gold miners are mostly lower. Resolute Mining is slipping more than 1 percent and Northern Star Resources is edging down 0.4 percent, while Genesis Minerals and Newmont are down almost 1 percent each. Evolution Mining is flat.
Among the big four banks, Commonwealth Bank, ANZ Banking and National Australia Bank are edging up 0.1 to 0.3 percent each. Westpac is flat.
In other news, shares in Ingenia Communities Group are soaring almost 19 percent after the real estate company company rejected an unsolicited A$1.9 billion takeover bid from Warburg Pincus, stating it substantially undervalued the company.
In the currency market, the Aussie dollar is trading at $0.720 on Monday.
Market Analysis
Australian Market Trims Early Gains In Mid-market
2026-09-07 03:36:18
