The Australian stock market is trading notably higher in mid-market trading on Monday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,700.00 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 48.70 points or 0.56 percent to 8,705.70, after hitting a low of 8,644.70 and a high of 8,713.00 earlier. The broader All Ordinaries Index is up 49.00 points or 0.55 percent to 8,926.20. Australian stocks closed modestly higher on Friday.
Among the major miners, BHP Group is adding more than 1 percent and Mineral Resources is advancing almost 3 percent, while Fortescue and Rio Tinto are gaining almost 2 percent each.
Oil stocks are mostly loser. Beach energy is down more than 2 percent, Santos is losing more than 3 percent, Woodside Energy is declining more than 4 percent and Origin Energy is edging down 0.4 percent.
Among tech stocks, Afterpay owner Block is edging down 0.5 percent, WiseTech Global is down almost 1 percent and Appen is tumbling almost 6 percent, while Zip is edging up 0.2 percent. Xero is flat.
Gold miners are mostly higher., Genesis Minerals is jumping almost 6 percent, Evolution Mining is gaining more than 4 percent and Resolute Mining is soaring more than 9 percent, while Newmont and Northern Star Resources are surging almost 5 percent each.
Among the big four banks, Westpac is edging up 0.5 percent, while ANZ Banking and National Australia Bank are gaining almost 1 percent each. Commonwealth Bank is edging down 0.1 percent
In the currency market, the Aussie dollar is trading at $0.716 on Monday.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.