The Australian market is trimming its early gains in mid-market moves on Thursday, snapping a six-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 9,050 level, with strong gains in mining and technology stocks partially offset by weakness in energy and financial stocks.
The benchmark S&P/ASX 200 Index is gaining 22.40 points or 0.25 percent to 9,076.20, after touching a high of 9,111.20 earlier. The broader All Ordinaries Index is up 33.00 points or 0.36 percent to 9,288.20. Australian stocks ended modestly lower on Wednesday.
Among major miners, BHP Group is gaining more than 2 percent, Mineral Resources is edging up 0.4 percent, Fortescue is advancing almost 1 percent and Rio Tinto is adding almost 2 percent.
Oil stocks are mostly lower. Woodside Energy is edging down 0.3 percent, while Beach energy and Origin Energy are down almost 1 percent each. Santos is gaining almost 1 percent.
In the tech space, Afterpay owner Block is gaining more than 1 percent, WiseTech Global is jumping more than 6 percent, Xero is adding more than 2 percent, Appen is surging more than 5 percent and Zip is soaring almost 18 percent after reporting upbeat results.
Among the big four banks, ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank are losing more than 1 percent each.
Among gold miners, Resolute Mining and Evolution Mining are jumping almost 9 percent each, while Northern Star Resources and Newmont are surging more than 7 percent each. Genesis Minerals is soaring almost 10 percent.
In other news, shares in Medibank Private are tumbling more than 8 percent after it said membership growth slowed last year amid cost-of-living pressures.
Shares in Super Retail Group are soaring almost 17 percent after the Rebel and Macpac owner’s earnings beat expectations.
Shares in Universal Store Holdings surging more than 12 percent after it reported sales growth at its youth fashion outlets, while profit declined.
Shares in Beacon Minerals are advancing almost 9 percent after reporting a huge 325 percent jump in Lady Ida’s Iguana Deposit ore reserves and outlines big plans in 2026.
In the currency market, the Aussie dollar is trading at $0.712 on Thursday.
Market Analysis
Australian Market Trims Early Gains In Mid-market
2026-08-20 03:29:37
