{"id":56689,"date":"2025-02-26T03:04:34","date_gmt":"2025-02-26T03:04:34","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/02\/26\/australian-market-maintains-early-losses-in-mid-market-3\/"},"modified":"2025-02-26T03:04:34","modified_gmt":"2025-02-26T03:04:34","slug":"australian-market-maintains-early-losses-in-mid-market-3","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/02\/26\/australian-market-maintains-early-losses-in-mid-market-3\/","title":{"rendered":"Australian Market Maintains Early Losses In Mid-market"},"content":{"rendered":"
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The Australian stock market is maintaining its early losses in mid-market trading on Wednesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling well below the 8,300 level, with weakness across most sectors led by mining amid tumbling metal prices.<\/p>\n

The benchmark S&P\/ASX 200 Index is losing 24.80 points or 0.30 percent to 8,227.10, after hitting a low of 8,210.10 earlier. The broader All Ordinaries Index is down 34.10 points or 0.40 percent to 8,463.90. Australian stocks ended significantly lower on Tuesday.<\/p>\n

Among major miners, BHP Group is losing almost 1 percent, Fortescue Metals is slipping almost 5 percent, Rio Tinto is declining almost 2 percent and Mineral Resources is down more than 3 percent.<\/p>\n

Oil stocks are mixed. Woodside Energy is gaining more than 3 percent and Origin Energy is edging up 0.2 percent, while Santos is edging down 0.3 percent and Beach energy is losing more than 1 percent.<\/p>\n

In the tech space, Zip is edging up 0.2 percent and WiseTech Global is gaining almost 2 percent, while Afterpay owner Block is slipping almost 4 percent, Xero is declining almost 1 percent and Appen is tumbling almost 32 percent after downbeat full-year results.<\/p>\n

Among the big four banks, Commonwealth Bank is adding almost 1 percent, Westpac are edging up 0.4 percent and ANZ Banking is gaining more than 1 percent, while National Australia Bank is edging down 0.5 percent.<\/p>\n

Among gold miners, Resolute Mining and Evolution Mining are declining more than 2 percent each, while Northern Star Resources and Gold Road Resources are losing almost 3 percent each. Newmont is slipping almost 2 percent.<\/p>\n

In other news, shares in Flight Centre are tumbling almost 12 percent despite the travel booking service reporting a 7 percent growth in underlying profit as it set a record for productivity through automation.<\/p>\n

Shares in Bapcor are jumping almost 15 percent after the car parts provider said costs and savings were expected to come in near the top end of a cost-cutting target range in 2024-25.<\/p>\n

Shares in Worley are soaring almost 11 percent after the company announced a $500 million share buyback and reported a 72 percent jump in interim net profit.<\/p>\n

Shares in PointsBet are skyrocketing more than 31 percent after the technology<\/span> company received two takeover offers to buy the company.<\/p>\n

Shares in Kelsian Group shed a fifth of its value, tumbling almost 19 percent after the company posted a 7.9 per cent fall in underlying profit.<\/p>\n

In economic news, the value of total construction work done in Australia was up a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday – coming in at A$73.936 billion. That was shy of expectations for an increase of 1.0 percent and down from 1.6 percent in the three months prior. On a yearly basis, construction work was up 1.8 percent.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.633 on Wednesday. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n