Australian Market Trims Gains In Mid-market

(RTTNews) - The Australian stock market is trimming its gains in mid-market trading on Wednesday, but expending the gains in the previous session, with the benchmark S&P/ASX 200 index still staying well above the 8,200.00 level, with gains in mining and financial stocks nearly offset by weakness in technology and energy stocks.

The benchmark S&P/ASX 200 Index is gaining 2.00 points or 0.02 percent to 8,233.00, after touching a high of 8,263.50 earlier. The broader All Ordinaries Index is up 4.50 points or 0.05 percent to 8,476.30. Australian stocks ended notably higher on Tuesday.

Among major miners, Rio Tinto is edging up 0.2 percent, Mineral Resources is adding almost 1 percent and Fortescue Metals is advancing more than 1 percent, while BHP Group is edging down 0.5 percent.

Oil stocks are lower. Woodside Energy, Origin Energy and Santos are edging down 0.2 to 0.3 percent each. Beach energy is losing more than 1 percent.

In the tech space, Afterpay owner Block and Xero are edging up 0.2 to 0.3 percent each, while Appen is slipping almost 2 percent, WiseTech Global is declining almost 3 percent and Zip is losing more than 1 percent.

Among the big four banks, Commonwealth Bank and Westpac are edging up 0.1 to 0.4 percent each, while ANZ Banking is gaining more than 1 percent and National Australia Bank is adding almost 1 percent.

Among gold miners, Evolution Mining is gaining almost 2 percent, Northern Star Resources is edging up 0.5 percent, Newmont is adding more than 1 percent and Gold Road Resources is advancing almost 2 percent, while Resolute Mining is losing almost 1 percent.

In the currency market, the Aussie dollar is trading at $0.619 on Wednesday.