The Australian market is swinging to notable gains in mid-market moves on Thursday, after opening in the red, snapping a three-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 9,000 level, with gains in mining and financial stocks partially offset by weakness in technology stocks.
The benchmark S&P/ASX 200 Index is gaining 47.50 points or 0.53 percent to 9,025.90, after hitting a low of 8,970.30 and a high of 9,027.90 earlier. The broader All Ordinaries Index is up 46.40 points or 0.51 percent to 9,206.70. Australian stocks ended significantly lower on Wednesday.
Among major miners, BHP Group is losing almost 1 percent. Fortescue and Mineral Resources are advancing almost 3 percent each, while Rio Tinto is adding almost 2 percent.
Oil stocks are mostly lower. Woodside Energy is losing almost 3 percent, Beach energy is down almost 1 percent and Santos is edging down 0.1 percent, while Origin Energy is edging up 0.4 percent.
In the tech space, Afterpay owner Block is surging more than 5 percent, while Xero is losing almost 1 percent, Zip is edging down 0.4 percent, WiseTech Global is declining almost 2 percent and Appen is slipping almost 3 percent.
Among the big four banks, ANZ Banking, Westpac and National Australia Bank are advancing almost 2 percent each, while Commonwealth Bank is gaining almost 1 percent.
Among gold miners, Evolution Mining and Northern Star Resources are gaining more than 2 percent each, while Resolute Mining is advancing almost 4 percent, Genesis Minerals are rising more than 3 percent and Newmont is adding almost 3 percent.
In other news, shares in Regis Healthcare are tumbling 28 percent after noted a 2.55% increase to the industry-wide government funding rate, with inflation and wage pressures running well ahead of this increase.
Shares in Corporate Travel Management are crashing 81 percent as trading resumed on the ASX after an extended year-long suspension since August 2025 after uncovering accounting issues that snowballed into a massive scandal.
In economic news, the services sector in Australia continued to expand in August, albeit at a slower pace, the latest survey from S&P Global revealed on Thursday with a Purchasing Managers Index score of 53.2. That’s down from 53.6 in July, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite index eased to 52.7 in August from 53.2 in July.
In the currency market, the Aussie dollar is trading at $0.717 on Thursday.
Market Analysis
Australian Market Swings To Notable Gains In Mid-market
2026-09-03 03:29:45
