After a marginal upmove, the Australian stock market is trading slightly weak amid lackluster moves on Friday with investors treading cautiously following a mixed lead from Wall Street.
Bank, mining and energy stocks are exhibiting a mixed trend. Consumer staples and consumer discretionary stocks are trading weak, while information technology stocks are finding some support.
The benchmark S&P/ASX 200 index, which advanced to 4,275.5 in early trades, is currently down 5.5 points at 4,262.3. The broader All Ordinaries index is down 4.2 points at 4,329, off an early high of 4,340.8.
Among bank stocks, Commonwealth Bank of Australia, National Australia Bank and Westpac are up 0.3 to 0.5 percent, while ANZ Bank is trading lower by about 0.4 percent. Bendigo & Adelaide Bank and Bank of Queensland are down marginally.
Among top miners, BHP Billiton is up marginally and Rio Tinto is down 0.2 percent. Fortescue Metals and Newcrest Mining are trading stronger by 1.8 percent and 1.6 percent, respectively.
In the energy sector, Woodside Petroleum and Oil Search are down marginally and Caltex Australia is down nearly 2 percent, while Santos and Origin Energy are trading in positive territory, gaining 0.3 percent and 1.3 percent, respectively.
Lynas Corporation is down more than 5 percent. Bluescope Steel is trading lower by over 3.5 percent. Challenger, Amcor, Whitehaven Coal, David Jones, Echo Entertainment Group, APA Group, Fairfax Media and Investa Office Fund are down 1.5 to 2 percent.
Goodman Fielder, CFS Retail Property Trust and Transurban Group shares are also trading notably lower.
Boart Longyear is gaining almost 4 percent. QBE Insurance Group, Crown and Aquarius Platinum are trading higher by 2.5 to 3 percent.
On the economic front, activity in the Australian services sector expanded for the first time in four months, a private survey revealed. The Australian Industry Group/Commonwealth Bank Australian Performance of Services Index rose 2.9 points to 51.9 points in January.
In the currency market, the Australian dollar opened slightly weak and was quoting at US$1.0709 in early trades, down from Thursday's close of US$1.0717.
Among other markets in the Asia-Pacific region, South Korea is trading modestly lower. Singapore and Japan are down marginally, while New Zealand is trading higher. Markets across the region moved mostly higher on Thursday.
On Wall Street, stocks turned in a lackluster performance on Thursday with traders seemingly reluctant to make any significant moves ahead of Friday's jobs report.
The major averages closed on opposite sides of the unchanged line, with the Dow posting a modest loss. While the Dow edged down by about 11 points or 0.1 percent to 12,705.4, the Nasdaq rose 11.4 points or 0.4 percent to 2,859.7 and the S&P 500 inched up 1.4 points or 0.1 percent to 1,325.5.
Major European markets moved higher on Thursday. While the U.K.'s FTSE 100 index edged up by 0.1 percent, the French CAC 40 index and the German DAX index gained 0.3 percent and 0.6 percent, respectively.
Crude oil prices drifted lower on Thursday, extending losses for a fifth straight day, due to demand concerns after U.S. oil stockpiles increased more than expected last week. Light sweet crude for March delivery dipped $1.25 or 1.3 percent to settle at $96.36 a barrel on the New York Mercantile Exchange.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.