The Australian market is trimming early losses in mid-market moves on Thursday, reversing some of the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in mining and technology stocks nearly offset by gains in energy and financial stocks.
The benchmark S&P/ASX 200 Index is losing 1.20 points or 0.01 percent to 8,950.60, after hitting a low of 8,904.90 earlier. The broader All Ordinaries Index is down 15.20 points or 0.17 percent to 9,150.50. Australian stocks ended sharply higher on Wednesday.
Among major miners, Rio Tinto and Mineral Resources are declining more than 2 percent each, while Fortescue is down almost 2 percent and BHP Group is losing more than 1 percent.
Oil stocks are mostly higher. Beach energy and Origin Energy are gaining more than 1 percent each, while Santos is adding more than 2 percent and Woodside Energy is advancing almost 3 percent.
In the tech space, Afterpay owner Block losing more than 3 percent, Zip is tumbling almost 7 percent and Appen is declining almost 3 percent, while WiseTech Global and Xero are slipping more than 5 percent each.
Among the big four banks, Westpac is gaining almost 1 percent and National Australia Bank is adding more than 1 percent, while Commonwealth Bank and ANZ Banking are edging up 0.4 to 0.5 percent each.
Among gold miners, Newmont is declining more than 3 percent, Northern Star Resources is down almost 2 percent and Genesis Minerals is slipping more than 4 percent, while Evolution Mining and Resolute Mining are losing almost 3 percent each.
In other news, shares in Orora are tumbling more than 15 percent after the company slashed its FY26 EBIT guidance for its Saverglass division due to the ongoing Middle East conflict.
In the currency market, the Aussie dollar is trading at $0.704 on Thursday.
Market Analysis
Australian Market Trims Early Losses In Mid-market
2026-04-09 03:14:18
