Australian Market Extends Gains In Mid-market

(RTTNews) - The Australian stock market is extending its gains in mid-market trading on Monday, snapping a three-session losing streak, with the benchmark S&P/ASX 200 index moving well above the 8,100.00 level, with gains across most sectors led by technology, mining and energy stocks.

The benchmark S&P/ASX 200 Index is gaining 96.20 points or 1.19 percent to 8,163.20, after touching a high of 8,164.50 earlier. The broader All Ordinaries Index is up 97.30 points or 1.17 percent to 8,414.00. Among the major miners, BHP Group and Fortescue Metals are edging up 0.2 to 0.4 percent each, while Mineral Resources is gaining more than 2 percent. Rio Tinto is edging down 0.4 percent. Oil stocks are mostly higher. Santos and Beach energy are gaining almost 1 percent each, while Origin Energy is adding almost 2 percent and Woodside Energy is advancing 1.5 percent.

Among tech stocks, Afterpay owner Block is gaining almost 3 percent, Zip is surging almost 7 percent, Xero is adding more than 1 percent, Appen is advancing more than 7 percent and WiseTech Global is edging up 0.5 percent.

Gold miners are mostly higher. Evolution Mining is gaining more than 1 percent, Northern Star Resources is adding almost 1 percent, Newmont is advancing more than 3 percent, while Gold Road Resources and Resolute Mining are up almost 2 percent each.

Among the big four banks, National Australia Bank and Westpac are gaining almost 2 percent each, while Commonwealth Bank and ANZ Banking are adding more than 2 percent each.

In the currency market, the Aussie dollar is trading at $0.626 on Monday.