Australian shares experienced a slight dip on Wednesday, with the S&P/ASX 200 trading below the 7,800 mark. This decline followed negative cues from Wall Street, impacting iron ore miners and energy stocks. However, gains were observed in gold miners, financial, and technology sectors.
The benchmark S&P/ASX 200 Index dropped by 0.10 percent to 7,753.60, while the All Ordinaries Index decreased by 0.09 percent to 7,962.80. Notable declines were seen in major miners such as BHP Group, Rio Tinto, Mineral Resources, and Fortescue Metals.
In the oil sector, stocks like Woodside Energy, Santos, and Beach Energy witnessed declines, while Origin Energy showed a slight increase. Tech companies like Block, Appen, WiseTech Global, Xero, and Zip demonstrated positive movements.
Among the big four banks, Commonwealth Bank, ANZ Banking, Westpac, and National Australia Bank saw varied gains. Gold miners like Evolution Mining, Gold Road Resources, Resolute Mining, and Newmont also showed positive trends.
Notably, shares in Star Entertainment dropped almost 5 percent following a trading suspension. In the currency market, the Australian dollar was trading at $0.634.
On Wall Street, stocks lacked direction, with the Dow falling by 0.4 percent, the S&P 500 dipping by 0.2 percent, and the Nasdaq edging down by 0.1 percent. In contrast, major European markets, including the French CAC 40, German DAX, and U.K.’s FTSE 100, experienced upward movements.
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