The Australian market is trading modestly lower on Thursday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 9,200 level, with a mixed performance across most sectors.
The benchmark S&P/ASX 200 Index is losing 18.10 points or 0.20 percent to 9,191.30, after hitting a low of 9,170.80 earlier. The broader All Ordinaries Index is down 14.10 points or 0.15 percent to 9,390.60. Australian stocks ended notably lower on Wednesday.
Among major miners, BHP Group, Fortescue and Mineral Resources are edging up 0.1 to 0.3 percent each, while Rio Tinto is losing almost 3 percent.
Oil stocks are mostly lower. Woodside Energy is down almost 1 percent, while Beach energy and Santos are losing more than 1 percent each. Origin Energy is surging almost 6 percent on upbeat results.
In the tech space, Afterpay owner Block and Zip are losing more than 1 percent each, while WiseTech Global is gaining almost 2 percent, Xero is up almost 1 percent and Appen is advancing more than 4 percent.
Among the big four banks, ANZ Banking is gaining almost 3 percent, while Westpac and National Australia Bank are edging up 0.3 percent each. Commonwealth Bank is losing more than 2 percent.
Among gold miners, Genesis Minerals is up almost 1 percent and Newmont is adding almost 2 percent, while Evolution Mining and Northern Star Resources are gaining more than 1 percent each. Resolute Mining is edging down 0.3 percent.
In other news, shares in Cleanaway are jumping more than 14 percent after the waste management company announced it had received a $9.4 billion takeover bid from Swedish private equity group EQT Infrastructure.
Shares in ASX Ltd are surging more than 7 percent after reporting a 5 percent rise in full-year underlying profit.
Shares in IAG slipped almost 6 percent after posting a nearly 25 per cent fall in net profit in its full-year results.
In the currency market, the Aussie dollar is trading at $0.706 on Thursday.
On Wall Street, stocks remained mostly positive throughout the trading day on Wednesday after advancing early in the session, although buying interest appeared somewhat subdued. The Nasdaq and the S&P 500 finished the day higher, partly offsetting the weakness seen to start the week.
The tech-heavy Nasdaq climbed 143.04 points or 0.5 percent to 26,588.49 and the S&P 500 rose 20.30 points or 0.3 percent to 7,748.50. Meanwhile, the narrower Dow spent most of the day lingering near the unchanged line before closing down 21.58 points or less than a tenth of a percent at 53,770.27.
Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index fell by 0.5 percent, the German DAX Index dipped by 0.2 percent and the U.K.’s FTSE 100 Index edged down by 0.1 percent.
Crude oil prices inched lower after Pakistan announced initiating efforts to bring the U.S. and Iran back to the negotiating table. West Texas Intermediate crude for September delivery was down $0.22 or 0.2 percent at $82.98 per barrel.
Market Analysis
Australian Market Modestly Lower
2026-08-13 01:05:44
