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The Australian stock market is extending its early gains in mid-market moves on Wednesday, adding to the slight gains in the previous session, with the benchmark S&P\/ASX 200 moving well above the 8,700 level, following the mixed cues from Wall Street overnight, with gains across most sectors led by mining and energy stocks.<\/p>\n
The benchmark S&P\/ASX 200 Index is gaining 59.40 points or 0.69 percent to 8,736.60, after touching a high of 8,731.60 earlier. The broader All Ordinaries Index is up 57.30 points or 0.64 percent to 8,998.80. Australian stocks ended slightly higher on Tuesday.<\/p>\n
Among major miners, BHP Group is gaining more than 1 percent, Fortescue is adding more than 2 percent, Rio Tinto is advancing almost 2 percent and Mineral Resources is rising more than 2 percent.<\/p>\n
Oil stocks are mostly higher. Origin Energy is edging up 0.1 percent, Woodside Energy is gaining almost 2 percent and Beach energy is adding almost 3 percent, while Santos is edging down 0.3 percent.<\/p>\n
In the tech space, Afterpay owner Block is gaining more than 2 percent, Zip is adding almost 1 percent and Appen is edging up 0.4 percent, while WiseTech Global is edging down 0.4 percent and Xero are losing more than 1 percent.<\/p>\n
Among the big four banks, Commonwealth Bank and ANZ Banking are edging up 0.2 to 0.5 percent each, while Westpac is gaining more than 1 percent. National Australia bank is edging down 0.2 percent.<\/p>\n
Among gold miners, Evolution Mining is advancing more than 3 percent, Resolute Mining is rising almost 2 percent, Northern Star Resources is gaining almost 3 percent, Newmont is adding more than 2 percent and Gold Road Resources is up more than 1 percent.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.656 on Wednesday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n