The Australian market has shrunk considerably

(RTTNews) – Australian stocks fell sharply on Friday, extending losses in the previous session, after mixed signs from European markets and a lack of signals from Wall Avenue in a closed day. The benchmark S&P/ASX 200 falls below the 8,300 level, with weakness in cash and technology shares partly offset by gains in mining and energy stocks.

The benchmark S&P/ASX 200 lost 52.70 facets, or 0.63 percent, to eight276.50, after earlier hitting a low of 8,272.40. The broader All Ordinaries index fell 50.50 facets, or 0.59 percent, to 8,527.30. Australian shares were modestly lower on Thursday.

Among the major miners, BHP Neighborhood gains more than 1pc and Rio Tinto includes nearly 2pc, while Mineral Resources and Fortescue Metals advance 0.3pc each.

Oil stocks are mostly outperforming. Woodside Power and Santos advance 0.1 to 0.2 percent each, while Seaside energy gains nearly 1 percent, Origin Power falls 0.1 percent

Among tech stocks, Afterpay-owner Block is down more than 1pc, Zip is losing almost 1pc and Appen is down more than 2pc, while WiseTech World and Xero are down 0.2pc to 0.3pc each.

Among the huge four banks, Commonwealth Financial institution and Nationwide Australia Financial institution are losing more than 1pc each, while Westpac is down more than 2pc and ANZ Banking is down almost 1pc. Gold miners are mostly better. Evolution Mining and Newmont gain nearly 1pc each, while Resolute Mining and Northern Indispensable person Resources advance 0.3pc and nil.5pc each. Gold Road Resources is down 0.2 percent

In the foreign exchange market, the Australian dollar is trading at $0.620 on Friday.

Stock markets on Wall Avenue were closed Thursday in honor of late US President Jimmy Carter, who died in December at the age of 100.

Meanwhile, the main European markets ended the day mixed. While Britain’s FTSE 100 index jumped 0.8 percent and France’s CAC 40 index 0.5 percent, Germany’s DAX index fell 0.1 percent.

Crude oil prices improved on Thursday amid optimism about the outlook for global oil demand and doubtless supply shortages due to sanctions against Iranian and Russian rogue exports. West Texas Intermediate Hideous crude futures for February settled $0.60 better, or 0.82pc, at $73.92 a barrel.

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