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The Australian stock market is extending its early losses in mid-market trading on Monday, reversing some of the gains in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P\/ASX 200 index is falling below the 8,850.00 level, with weakness in gold mining and financial stocks partially offset by gains in energy stocks.<\/p>\n
The benchmark S&P\/ASX 200 Index is losing 58.80 points or 0.66 percent to 8,849.30, after hitting a low of 8,846.20 earlier. The broader All Ordinaries Index is down 57.40 points or 0.64 percent to 8,968.00. Australian stocks closed modestly higher on Friday. <\/p>\n
Among the major miners, BHP Group and Rio Tinto are losing more than 1 percent each, while Mineral Resources is gaining almost 1 percent and Fortescue is edging up 0.3 percent.<\/p>\n
Oil stocks are mostly higher. Woodside Energy, Beach energy and Santos are gaining almost 1 percent each, while Origin Energy is edging up 0.2 percent.<\/p>\n
Among tech stocks, Afterpay owner Block is gaining almost 1 percent, Zip is up almost 1 percent and Appen is surging more than 8 percent, while WiseTech Global is losing more than 2 percent and Xero is declining almost 3 percent.<\/p>\n
Gold miners are mostly lower. Genesis Minerals is down almost 4 percent, Evolution Mining is losing more than 1 percent and Northern Star Resources is declining almost 4 percent, while Resolute Mining and Newmont are slipping almost 3 percent each.<\/p>\n
Among the big four banks, Commonwealth Bank and National Australia Bank are losing almost 1 percent each, while ANZ Banking and Westpac are edging down 0.2 to 0.3 percent each.<\/p>\n
In other news, shares in KMD Brands are surging more than 8 percent after the Kathmandu owner confirmed an exclusivity agreement with US-based brand management and investment firm Bluestar Alliance regarding a potential buyout transaction.<\/p>\n
In economic news, the manufacturing sector in Australia continued to contract in October, and at a steady pace, the latest survey from S&P Global revealed on Monday with a Performance of Manufacturing Index score of 49.6. That was unchanged from the September reading, and it remained beneath the boom-or-bust line of 50 that separates expansion from contraction.<\/p>\n
Australia’s Melbourne Institute Monthly Inflation Gauge rose 0.5 percent on month in October 2026, up from a 0.3 percent increase in the previous month and marking a fourth straight monthly gain. Annual headline inflation accelerated to a six-month high of 4.3 percent in September, remaining well above the RBA’s 2 to 3 percent target range.<\/p>\n
Meanwhile, the total number of building permits issued in Australia was up a seasonally adjusted 5.1 percent on month in September, the Australian Bureau of Statistics said on Monday – coming in at 17,948. That beat forecasts for an increase of 1.8 percent following the upwardly revised 5.2 percent contraction in August (originally -6.1 percent). Total building approvals were down 0.8 percent on year.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.702 on Monday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n