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The Australian stock market is extending to its early losses in mid-market trading on Monday, adding to the losses in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P\/ASX 200 index is staying below the 8,450.00 level, with weakness across most sectors led by in iron ore miners and technology<\/span> stocks.<\/p>\n The benchmark S&P\/ASX 200 Index is losing 17.30 points or 0.21 percent to 8,417.40, after hitting a low of 8,401.10 earlier. The broader All Ordinaries Index is down 18.70 points or 0.22 percent to 8,641.60. Australian stocks closed modestly lower on Friday.<\/p>\n Among the major miners, BHP Group is losing more than 1 percent, Rio Tinto is declining more than 2 percent, Mineral Resources is tumbling more than 7 percent and Fortescue Metals is down almost 3 percent.<\/p>\n Oil stocks are mostly lower. Origin Energy is down almost 2 percent and Woodside Energy is edging down 0.3 percent, while Beach energy and Santos are losing more than 1 percent each.<\/p>\n Among tech stocks, Afterpay owner Block and Zip are losing almost 3 percent each, while Appen is sliding more than 6 percent and WiseTech Global is down more than 1 percent. Xero is gaining more than 2 percent.<\/p>\n Gold miners are mostly higher. Evolution Mining is gaining almost 2 percent, Northern Star Resources is edging up 0.3 percent and Newmont and are adding almost 1 percent, while Resolute Mining is down almost 1 percent and Gold Road Resources is losing more than 1 percent.<\/p>\n Among the big four banks, National Australia Bank and ANZ Banking are down almost 1 percent each, while Westpac is losing almost 2 percent. Commonwealth Bank is edging up 0.1 percent.<\/p>\n In other news, shares in Soul Patts are leaping almost 12 percent and shares in Brickworks are skyrocketing almost 22 percent after the two blue chip companies announced a $14 billion merger to form ASX-listed investments, private capital, property and building products giant.<\/p>\n In economic news, the manufacturing sector in Australia continued to expand in May, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.0. That’s down from 51.7 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.<\/p>\n In the currency market, the Aussie dollar is trading at $0.646 on Monday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n