The Australian stock market is trimming its early losses in mid-market trading on Monday, extending the slight losses in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,750.00 level, with weakness in mining stocks partially offset by gains in financial stocks. Most other sectors were mixed.
The benchmark S&P/ASX 200 Index is losing 6.10 points or 0.07 percent to 8,725.10, after hitting a low of 8,681.10 earlier. The broader All Ordinaries Index is down 8.80 points or 0.10 percent to 8,913.90. Australian stocks closed slightly lower on Friday.
Among the major miners, BHP Group, Fortescue and Rio Tinto are losing almost 1 percent each, while Mineral Resources is gaining more than 1 percent.
Oil stocks are mostly higher. Beach energy is edging up 0.2 percent and Santos is gaining more than 1 percent, while Woodside Energy is losing almost 1 percent. Origin Energy is flat.
Among tech stocks, Afterpay owner Block is edging up 0.1 percent and Zip is gaining more than 2 percent, while Xero is declining almost 4 percent, WiseTech Global is losing more than 2 percent and Appen is edging down 0.3 percent
Gold miners are weak. Genesis Minerals is edging down 0.5 percent, Newmont is declining almost 2 percent and Resolute Mining is tumbling almost 9 percent, while Northern Star Resources and Evolution Mining are losing almost 1 percent each.
Among the big four banks, Commonwealth Bank and Westpac are edging up 0.3 to 0.4 percent each, while ANZ Banking and National Australia Bank are gaining almost 1 percent each.
In other news, shares in Perpetual Ltd. are tumbling almost 14 percent after rejecting a sweetened takeover proposal from EQT Group and confirmed the end of discussions.
Shares in Telix Pharmaceuticals are slipping almost 7 percent after announcing a merger with German company ITM Isotope Technologies Munich SE.
In the currency market, the Aussie dollar is trading at $0.712 on Monday.
Market Analysis
Australian Market Trims Early Losses In Mid-market
2026-09-21 03:18:32
