{"id":59503,"date":"2025-05-09T04:32:16","date_gmt":"2025-05-09T04:32:16","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/05\/09\/australian-market-extends-early-gains-in-mid-market-10\/"},"modified":"2025-05-09T04:32:16","modified_gmt":"2025-05-09T04:32:16","slug":"australian-market-extends-early-gains-in-mid-market-10","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/05\/09\/australian-market-extends-early-gains-in-mid-market-10\/","title":{"rendered":"Australian Market Extends Early Gains In Mid-market"},"content":{"rendered":"
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The Australian stock market is extending its early gains in mid-market moves on Friday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P\/ASX 200 is moving well above the 8,200 level, with gains in technology<\/span> and energy stocks partially offset by weakness in mining stocks.<\/p>\n

The benchmark S&P\/ASX 200 Index is gaining 39.70 points or 0.49 percent to 8,231.40, after touching a high of 8,231.70 earlier. The broader All Ordinaries Index is up 39.70 points or 0.47 percent to 8,461.40. Australian stocks closed modestly higher on Thursday.<\/p>\n

Among major miners, Rio Tinto and BHP Group are losing almost 1 percent each, while Mineral Resources is gaining almost 2 percent and Fortescue Metals is edging up 0.1 percent.<\/p>\n

Oil stocks are mostly higher. Origin Energy is gaining more than 1 percent and Beach energy is advancing almost 2 percent, while Santos and Woodside Energy are adding more than 2 percent each.<\/p>\n

Among tech stocks, Afterpay-owner Block is gaining more than 4 percent, Appen is surging more than 7 percent, WiseTech Global is adding more than 2 percent and Xero is up 2.5 percent. Zip is flat.<\/p>\n

Among the big four banks, Westpac is adding almost 2 percent, while Commonwealth Bank and National Australia Bank are gaining more than 1 percent. ANZ Banking is losing almost 1 percent.<\/p>\n

Gold miners are mostly lower. Evolution Mining and Resolute Mining are losing almost 3 percent each, while Northern Star Resources is down more than 1 percent and Newmont is declining almost 2 percent. Gold Road Resources is edging up 0.2 percent.<\/p>\n

In other news, shares in Avita Medical are slumping almost 17 percent despite reaffirming expectations for a 55 percent to 65 per cent jump in full-year commercial revenue after the wound care product provider reported significant growth in both new and existing customer accounts.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.639 on Friday. <\/p>\n<\/p>\n

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