{"id":56759,"date":"2025-02-27T02:46:09","date_gmt":"2025-02-27T02:46:09","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/02\/27\/australian-market-trims-early-gains-in-mid-market-6\/"},"modified":"2025-02-27T02:46:09","modified_gmt":"2025-02-27T02:46:09","slug":"australian-market-trims-early-gains-in-mid-market-6","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/02\/27\/australian-market-trims-early-gains-in-mid-market-6\/","title":{"rendered":"Australian Market Trims Early Gains In Mid-market"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

The Australian market in trimming its early gains in mid-market moves on Thursday, recouping some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P\/ASX 200 is moving up to near the 8,300 level, with gains in mining and energy stocks partially offset by weakness in technology<\/span> stocks.<\/p>\n

The benchmark S&P\/ASX 200 Index is gaining 32.30 points or 0.39 percent to 8,273.00, after touching a high of 8,300.00 earlier. The broader All Ordinaries Index is up 35.50 points or 0.42 percent to 8,512.80. Australian stocks ended slightly lower on Wednesday.<\/p>\n

Among major miners, Rio Tinto and are adding almost 1 percent, BHP Group is edging up 0.4 percent and Fortescue Metals is advancing more than 1 percent, while Mineral Resources are losing more than 1 percent. <\/p>\n

Oil stocks are mostly higher. Origin Energy is gaining more than 1 percent, while Woodside Energy and Santos is edging up 0.4 to 0.5 percent each. Beach energy is edging down 0.2 percent.<\/p>\n

In the tech space, Xero is edging down 0.2 percent, Zip is declining more than 4 percent, WiseTech Global is down more than 2 percent and Appen is tumbling more than 9 percent, while Afterpay owner Block is gaining almost 2 percent.<\/p>\n

Among the big four banks, ANZ Banking and Westpac are edging up 0.3 percent each, while National Australia Bank and Commonwealth Bank are edging down 0.1 to 0.4 percent each.<\/p>\n

Among gold miners, Northern Star Resources and Newmont are gaining more than 2 percent each, while Evolution Mining is advancing almost 2 percent, Resolute Mining is surging more than 4 percent and Gold Road Resources is edging up 0.4 percent.<\/p>\n

In other news, shares in Eagers Automotive are soaring more than 20 percent after the car dealership group said had outperformed its market despite a 25 per cent slide in profit.<\/p>\n

Shares in Ramsay Health Care are jumping almost 13 percent after Australia’s largest private hospital operator appointed Goldman Sachs to advise on a potential sale of its 52.8 percent controlling stake in European business<\/span> Sant\u00e9, which had been pushed by shareholders.<\/p>\n

Shares in IDP Education are diving almost 11 percent after earnings tumbled by 40 percent due to a contraction in the international student market.<\/p>\n

Shares in Medibank are soaring almost 11 percent after it reported higher interim net profit and hiked its dividend 8.3 percent.<\/p>\n

Shares in Qantas are advancing almost 4 percent after the airline handed down a $1.4 billion interim profit and elected to return money to shareholders via a special dividend rather than increasing its buyback program.<\/p>\n

In economic news, the total value of new capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Thursday – coming in at A$43.961 billion. That missed forecasts for an increase of 0.6 percent following the 1.1 percent gain in the previous three months. On a yearly basis, capex was up 0.6 percent.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.631 on Thursday. <\/p>\n<\/p>\n

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