Aussie market pars early mid-market gains

(RTTNews) – The Australian stock market pared its early positives in mid-market buying and selling on Tuesday after snapping a three-session low, with the benchmark S&P/ASX 200 moving above the 8,200.00 level on positives . in mining and energy stocks, partially offset by weakness in financials and technology stocks.

The benchmark S&P/ASX 200 gained 18.70 aspects, or 0.23 per cent, to eight 210.60, after earlier touching a high of 8,253.80. The broader All Ordinaries index rose 21.20 points, or 0.25 percent, to eight,453.10. Australian stock markets fell sharply on Monday.

Among the essential miners, BHP Neighborhood gains almost 1pc, Rio Tinto advances 0.4pc, Fortescue Metals is on the sidelines with almost 2pc and Mineral Resources advances better than 2pc.

Oil stocks are mostly outperforming. Foundation Energy, Woodside Energy, and Santos gain roughly 1pc each, while Seaside Energy increases by 0.3pc

Among tech stocks, Owner Afterpay Block is down 0.5 percent and Appen is down 2.5 percent, while Zip and WiseTech Global are down roughly 1pc each. Xero advances by 0.1pc

Gold miners are mostly better. Resolute Mining, Newmont and Evolution Mining all increase by 0.4 to 0.5 pc each, while Northern Star resources gain almost 1 pc. Gold Avenue Resources is unchanged.

Among the Big Four banks, Westpac and National Australia Financial Institution are down 0.4 to 0.5 percent each. The Commonwealth Financial Institution lost nearly 1pc ANZ Banking is unchanged.

In other notes, shares of City Vivid Collective are up more than 11% after reporting solid holiday buying and sales, despite the company posting a 3.6% decline in revenue in the second half of 2024.

In the foreign exchange market, the Australian dollar was traded at $0.618 on Tuesday.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.