\n<\/p>\n
The Australian stock market is slashing its early losses in mid-market trading on Monday, giving up some of the gains in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P\/ASX 200 index is falling below the 8,850.00 level, with weakness in mining stocks and a mixed performance across other sectors.<\/p>\n
The benchmark S&P\/ASX 200 Index is losing 17.90 points or 0.20 percent to 8,847.00, after hitting a low of 8,794.00 earlier. The broader All Ordinaries Index is down 13.90 points or 0.15 percent to 9,114.80. Australian stocks closed notably higher on Friday.<\/p>\n
Among the major miners, Rio Tinto is edging up 0.1 percent and Mineral Resources is gaining almost 1 percent, while and BHP Group and Fortescue edging down 0.1 to 0.3 percent each.<\/p>\n
Oil stocks are mostly higher. Woodside Energy is edging up 0.2 percent and Santos is gaining almost 1 percent, while Beach energy is edging down 0.4 percent. Origin Energy is flat.<\/p>\n
Among tech stocks, Afterpay owner Block is declining more than 1 percent and Xero is edging down 0.1 percent, while Zip is gaining almost 1 percent and WiseTech Global is advancing 3.5 percent. Appen is flat.<\/p>\n
Gold miners are lower. Northern Star Resources and Newmont are losing almost 2 percent each, while Resolute Mining is slipping more than 3 percent, Evolution Mining are declining more than 5 percent and Gold Road Resources is edging down 0.3 percent.<\/p>\n
Among the big four banks, Commonwealth Bank and ANZ Banking are losing almost 1 percent each, while National Australia Bank and Westpac are edging up 0.2 to 0.3 percent each.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.665 on Monday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n