\n<\/p>\n
The Australian market is extending early losses in mid-market moves on Thursday, snapping a three session winning streak, despite the broadly positive cues from Wall Street overnight. The benchmark S&P\/ASX 200 is staying below the 8,850 level, with weakness in iron ore miners and energy stocks.<\/p>\n
The benchmark S&P\/ASX 200 Index is losing 18.20 points or 0.21 percent to 8,825.50, after hitting a low of 8,821.80 earlier. The broader All Ordinaries Index is down 16.60 points or 0.18 percent to 9,094.50. Australian stocks ended significantly higher on Wednesday. <\/p>\n
Among major miners, Rio Tinto, Fortescue and Mineral Resources are losing almost 1 percent each, while BHP Group is edging down 0.2 percent.<\/p>\n
Oil stocks are mostly lower. Woodside Energy, Beach energy and Origin Energy are edging down 0.1 to 0.4 percent each, while Santos is losing almost 1 percent.<\/p>\n
In the tech space, Afterpay owner Block is edging up 0.5 percent and WiseTech Global is gaining almost 1 percent, while Appen is declining more than 2 percent, Xero is edging down 0.2 percent and Zip is losing almost 3 percent.<\/p>\n
Among the big four banks, Commonwealth Bank and Westpac are edging down 0.1 to 0.3 percent each, while National Australia Bank is losing almost 1 percent. ANZ Banking is edging up 0.5 percent each, while each. <\/p>\n
Among gold miners, Northern Star Resources is advancing almost 2 percent, Newmont is adding more than 1 percent and Evolution Mining is gaining almost 1 percent, while Gold Road Resources is edging down 0.2 percent. Resolute Mining is flat.<\/p>\n
In other news, shares in ASX are tumbling almost 8 percent after Treasurer Jim Chalmers indicated he would seek to end its monopoly, and after the embattled market operator said it will book between $25 million and $35 million in additional operating expenses in the 2025-26 financial year amid an ongoing ASIC compliance inquiry.<\/p>\n
Shares in Westgold Resources are soaring almost 6 percent after announcing it expects higher gold production between 345,000 and 385,000 ounces in fiscal 2026.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.650 on Thursday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n