{"id":75407,"date":"2026-07-02T01:25:22","date_gmt":"2026-07-02T01:25:22","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/07\/02\/australian-market-notably-lower-57\/"},"modified":"2026-07-02T01:25:22","modified_gmt":"2026-07-02T01:25:22","slug":"australian-market-notably-lower-57","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/07\/02\/australian-market-notably-lower-57\/","title":{"rendered":"Australian Market Notably Lower"},"content":{"rendered":"
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The Australian market is trading notably lower on Thursday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling well below the 8,700 level, with weakness in energy stocks and a mixed performance in iron ore miners and technology<\/span> stocks.<\/p>\n

The benchmark S&P\/ASX 200 Index is losing 44.30 points or 0.51 percent to 8,678.60, after hitting a low of 8,656.20 earlier. The broader All Ordinaries Index is down 47.10 points or 0.53 percent to 8,884.30. Australian stocks ended notably lower on Wednesday.<\/p>\n

Among major miners, BHP Group is declining almost 2 percent and Rio Tinto is losing more than 1 percent, while Mineral Resources and Fortescue are edging up 0.1 to 0.3 percent each.<\/p>\n

Oil stocks are mostly lower. Beach energy, Santos and Woodside Energy are losing almost 2 percent each, while Origin Energy is declining almost 3 percent.<\/p>\n

In the tech space, Afterpay owner Block is gaining almost 1 percent, Appen is adding almost 2 percent and Xero is advancing almost 4 percent, while Zip is losing almost 2 percent and WiseTech Global is down almost 1 percent. <\/p>\n

Among the big four banks, ANZ Banking and Westpac are gaining almost 1 percent each, while National Australia Bank is advancing almost 3 percent and Commonwealth Bank is edging up 0.2 percent.<\/p>\n

Among gold miners, Newmont is gaining more than 2 percent, Northern Star Resources is advancing almost 4 percent and Genesis Minerals is rising more than 3 percent, while Evolution Mining is edging down 0.2 percent. Resolute Mining is flat.<\/p>\n

In other news, shares in VHM Ltd are skyrocketing 63 percent after the Junior ASX mining stock struck a long-term supply deal with rare earths miner Iluka Resources.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.689 on Thursday.<\/p>\n

On Wall Street, stocks were higher for much of Wednesday’s trade but a late slump saw them finish under water. The weakness that emerged on Wall Street was the result of ongoing concerns that the AI companies and chipmakers may be overbought – which had the biggest effect on the tech-heavy NASDAQ.<\/p>\n

The Dow dipped 13.96 points or 0.03 percent to finish at 52,305.24, coming off a record closing high. The NASDAQ sank 173.69 points or 0.66 percent to close at 26.040.03 and the S&) 500 fell 16.13 points or 0.22 percent to end at 7,483.23.<\/p>\n

Meanwhile, the major European markets<\/span> turned in a mixed performance on the day. The UK’s FTSE 100 drifted down 0.18 percent and France’s CAC 40 closed 0.79 percent down, while Germany’s DAX moved up 0.18 percent.<\/p>\n

Crude oil prices tumbled again on Wednesday amid gradual recovery in tanker traffic across the Strait of Hormuz. West Texas Intermediate crude for August delivery was down $1.12 or 1.61 percent at $68.38 per barrel. <\/p>\n<\/p>\n

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