Australian Stock Market Suffers Modest Losses Despite Positive Cues

The Australian stock market is seeing modest losses on Friday, slipping below the 8,600 level despite positive cues from Wall Street. The S&P/ASX 200 is down 0.23 percent to 8,569.90, with weakness in gold miner and energy stocks. Major miners like BHP Group and Rio Tinto are making gains, while oil stocks like Santos are down. Tech stocks like Afterpay and Xero are also experiencing losses. In other news, Johns Lyng shares are up 22 percent after a $1 billion takeover deal, while Lynas Rare Earths and Iluka Resources are soaring on rare earths news. The Aussie dollar is trading at $0.658.

Shares in Australian stock market are seeing modest losses on Friday, with the S&P/ASX 200 down 0.23 percent to 8,569.90. Major miners like BHP Group and Rio Tinto are making gains, while oil stocks like Santos are down. Tech stocks like Afterpay and Xero are also experiencing losses. In other news, Johns Lyng shares are up 22 percent after a $1 billion takeover deal, while Lynas Rare Earths and Iluka Resources are soaring on rare earths news. The Aussie dollar is trading at $0.658.

Read more at Nasdaq: Australian Market Slips To Modest Losses In Mid-market