Australian Markets Modestly Higher

(RTTNews) - The Australian stock market is modestly higher on Monday, reversing the losses in the previous session, despite the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks. The benchmark S&P/ASX 200 Index is gaining 32.70 points or 0.36 percent to 9,038.60, after touching a high of 9,044.50 earlier. The broader All Ordinaries Index is up 32.70 points or 0.36 percent to 9,228.70. Australian stocks closed modestly lower on Friday. Among the major miners, Fortescue is advancing more than 2 percent and Mineral Resources is adding almost 1 percent, while BHP Group and Rio Tinto are gaining almost 2 percent each. Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent, while Origin Energy is losing almost 1 percent. Beach energy is flat. Among tech stocks, Afterpay owner Block and Appen are losing almost 1 percent each, while WiseTech Global is declining almost 4 percent, Zip is slipping more than 1 percent and Xero is sliding more than 2 percent. Gold miners are mostly lower. Resolute Mining is slipping more than 1 percent and Northern Star Resources is edging down 0.4 percent, while Genesis Minerals and Newmont are down almost 1 percent each. Evolution Mining is flat. Among the big four banks, Commonwealth Bank, ANZ Banking and National Australia Bank are edging up 0.1 to 0.3 percent each. Westpac is flat. In other news, shares in Ingenia Communities Group are soaring almost 19 percent after the real estate company company rejected an unsolicited A$1.9 billion takeover bid from Warburg Pincus, stating it substantially undervalued the company. In the currency market, the Aussie dollar is trading at $0.721 on Monday. On Wall Street, stocks moved mostly lower during trading on Friday, giving back ground after moving notably higher over the two previous sessions. The major averages all moved to the downside, although selling pressure was somewhat subdued. The major averages finished the day off their lows of the session but still in the red. The Dow slid 271.86 points or 0.5 percent to 53,414.25, the Nasdaq fell 77.07 points or 0.3 percent to 26,506.99 and the S&P 500 fell 29.11 points or 0.4 percent to 7,7718.60. Meanwhile, the major European markets turned in a mixed performance on the day. The German DAX Index rose by 0.2 percent, while the U.K.'s FTSE 100 Index closed just below the unchanged line and the French CAC 40 Index edged down by 0.1 percent. Crude oil prices eased on Friday, reversing gains from the two previous sessions as the U.S. and Iran refrained from any military attacks. West Texas Intermediate crude for October delivery dipped $0.15 or 0.16 percent at $91.15 per barrel.

(RTTNews) - The Australian stock market is modestly higher on Monday, reversing the losses in the previous session, despite the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.

The benchmark S&P/ASX 200 Index is gaining 32.70 points or 0.36 percent to 9,038.60, after touching a high of 9,044.50 earlier. The broader All Ordinaries Index is up 32.70 points or 0.36 percent to 9,228.70. Australian stocks closed modestly lower on Friday.

Among the major miners, Fortescue is advancing more than 2 percent and Mineral Resources is adding almost 1 percent, while BHP Group and Rio Tinto are gaining almost 2 percent each.

Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent, while Origin Energy is losing almost 1 percent. Beach energy is flat.

Among tech stocks, Afterpay owner Block and Appen are losing almost 1 percent each, while WiseTech Global is declining almost 4 percent, Zip is slipping more than 1 percent and Xero is sliding more than 2 percent.

Gold miners are mostly lower. Resolute Mining is slipping more than 1 percent and Northern Star Resources is edging down 0.4 percent, while Genesis Minerals and Newmont are down almost 1 percent each. Evolution Mining is flat.

Among the big four banks, Commonwealth Bank, ANZ Banking and National Australia Bank are edging up 0.1 to 0.3 percent each. Westpac is flat.