{"id":73203,"date":"2026-05-11T03:28:42","date_gmt":"2026-05-11T03:28:42","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/05\/11\/australian-market-trims-early-losses-in-mid-market-31\/"},"modified":"2026-05-11T03:28:42","modified_gmt":"2026-05-11T03:28:42","slug":"australian-market-trims-early-losses-in-mid-market-31","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/05\/11\/australian-market-trims-early-losses-in-mid-market-31\/","title":{"rendered":"Australian Market Trims Early Losses In Mid-market"},"content":{"rendered":"
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The Australian stock market is trimming its early losses in mid-market trading on Monday, but extending the sharp losses in the previous session, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P\/ASX 200 index is falling below the 8,700.00 level, with weakness in financial and technology<\/span> stocks partially offset by gains in iron ore miners and energy stocks.<\/p>\n

The benchmark S&P\/ASX 200 Index is losing 59.30 points or 0.68 percent to 8,685.10, after hitting a low of 8,643.50 earlier. The broader All Ordinaries Index is down 55.40 points or 0.62 percent to 8,925.10. Australian stocks closed sharply lower on Friday. <\/p>\n

Among the major miners, Fortescue is edging up 0.3 percent and Rio Tinto is gaining more than 1 percent, while BHP Group and Mineral Resources are adding almost 1 percent each.<\/p>\n

Oil stocks are mostly higher. Beach energy, Origin Energy and Santos are edging up 0.1 to 0.3 percent each, while Woodside Energy is gaining almost 1 percent.<\/p>\n

Among tech stocks, Afterpay owner Block is gaining more than 1 percent, while Xero is declining more than 4 percent, Zip is down more than 3 percent, WiseTech Global is losing almost 3 percent and Appen is slipping almost 2 percent.<\/p>\n

Gold miners are mostly lower. Northern Star Resources and Evolution Mining are edging down 0.3 to 0.4 percent each, while Genesis Minerals is losing almost 2 percent. Resolute Mining is gaining more than 1 percent. Newmont is flat.<\/p>\n

Among the big four banks, Commonwealth Bank and ANZ Banking are edging down 0.3 to 0.5 percent each, while National Australia Bank and Westpac are declining more than 1 percent each.<\/p>\n

In other news, shares in CSL are tumbling more than 19 percent after it downgraded its outlook for the 2026 fiscal year. It has flagged US$S5 billion (A$6.91 billion) in additional non-cash pre-tax impairments over FY26 and FY27.<\/p>\n

In economic news, the seasonally adjusted number of total dwellings approved in Australia fell 10.5 percent on month to 17,300 units in March 2026, reversing a 31.0 percent surge in February. This marked the steepest decline since late December. Meanwhile, total dwelling approvals were still up 9.0 percent on year, following a 16.1 percent gain in the previous period.<\/p>\n

Private house approvals in Australia rose by 0.9 percent on month to 10,194 units in March 2026, confirming preliminary estimates and easing from a 2 percent increase in the previous month. This marked the fifth consecutive monthly gain. On an annual basis, private house approvals climbed 12 percent, accelerating from a 9.3 percent increase in the previous month.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.723 on Monday. <\/p>\n<\/p>\n

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