Australian Market Drifts Further Lower In Mid-market
2024-12-23
4898
(fxcue news) - The Australian stock market is drifting further lower in mid-market trading on Monday, snapping a three-session losing streak, with the benchmark S&P/ASX 200 index falling to stay a tad above the 8,200.00 level, with weakness in financial and technology stocks.
The benchmark S&P/ASX 200 Index is losing 53.30 points or 0.65 percent to 8,208.50, after hitting a low of 8,207.50 earlier. The broader All Ordinaries Index is down 51.10 points or 0.60 percent to 8,469.00.
Among the major miners, Rio Tinto is gaining almost 1 percent, while Mineral Resources is edging down 0.4 percent. BHP Group and Fortescue Metals are flat.
Oil stocks are mostly higher. Woodside Energy is gaining almost 1 percent and Origin Energy is edging up 0.3 percent, while Beach energy and Santos are adding more than 1 percent each.
Among tech stocks, Afterpay owner Block and Zip are losing almost 3 percent each, while Xero is slipping almost 2 percent. WiseTech Global is edging up 0.3 percent and Appen is gaining almost 3 percent.
Gold miners are mostly lower. Evolution Mining, Gold Road Resources, Northern Star Resources and Newmont are edging down 0.1 to 0.5 percent each, while Resolute Mining is edging up 0.5 percent.
Among the big four banks, National Australia Bank, ANZ Banking and Westpac are losing almost 1 percent each, while Commonwealth Bank is declining more than 1 percent.
In the currency market, the Aussie dollar is trading at $0.623 on Monday.
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