The Australian market is trimming the early gains in mid-market moves on Thursday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,850 level, with gains in mining and financial stocks partially offset by weakness in energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 73.00 points or 0.83 percent to 8,866.60, after touching a high of 8,887.90 earlier. The broader All Ordinaries Index is up 76.30 points or 0.85 percent to 9,092.40. Australian stocks ended sharply higher on Wednesday.
Among major miners, Rio Tinto and Fortescue are adding more than 2 percent each, while BHP Group and Mineral Resources are gaining more than 3 percent each.
Oil stocks are mostly lower. Beach energy and Santos are losing more than 2 percent each, while Woodside Energy is advancing more than 4 percent and Origin Energy is down almost 1 percent.
In the tech space, Afterpay owner Block is edging down 0.2 percent, WiseTech Global is losing more than 1 percent and Xero is slipping almost 2 percent, while Zip is gaining more than 3 percent and Appen is advancing almost 3 percent.
Among the big four banks, Commonwealth Bank is gaining more than 1 percent, Westpac is adding more than 2 percent, ANZ Banking is up almost 1 percent, while National Australia Bank is edging down 0.1 percent.
Among gold miners, Northern Star Resources is gaining almost 3 percent, Newmont is adding more than 2 percent and Genesis Minerals is surging almost 5 percent, while Evolution Mining and Resolute Mining are jumping more than 4 percent each.
In other news, shares in Tabcorp are plunging almost 22 percent on reports of being investigated by AUSTRAC over "serious concerns" relating to its ability to effectively identify, mitigate and manage money laundering and terrorism financing risks.
Shares in Light & Wonder are tumbling almost 10 percent after the gaming technology company reported mixed first-quarter result.
In the currency market, the Aussie dollar is trading at $0.724 on Thursday.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.