The Australian stock market is trading significantly lower on Friday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,850 level, with weakness across most sectors led by mining and energy stocks. Technology stocks were the only bright spot.
The benchmark S&P/ASX 200 Index is losing 84.70 points or 0.95 percent to 8,826.40, after hitting a low of 8,820.60 earlier. The broader All Ordinaries Index is down 83.50 points or 0.92 percent to 9,043.30. Australian stocks closed notably lower on Thursday.
Among major miners, Rio Tinto is down more than 2 percent, Mineral Resources is declining almost 3 percent, BHP Group is losing more than 3 percent and Fortescue is slipping more than 1 percent.
Oil stocks are mostly lower. Beach energy, Origin Energy and Woodside Energy are losing almost 1 percent each, while Santos is down more than 1 percent.
Among tech stocks, Afterpay and Square-owner Block and WiseTech Global are edging up 0.1 to 0.3 percent each, while Zip is jumping almost 7 percent and Appen is gaining more than 1 percent. Xero is losing more than 1 percent.
Among the big four banks, National Australia Bank is edging down 0.2 percent and Westpac is declining more than 1 percent, while Commonwealth Bank and ANZ Banking are losing almost 1 percent each.
Gold miners are mostly lower. Northern Star Resources is down almost 3 percent, Evolution Mining is losing almost 4 percent, Genesis Minerals is declining more than 2 percent, Newmont is declining more than 4 percent and Resolute Mining is slipping more than 3 percent.
In other news, shares in SkyCity Entertainment are jumping almost 16 percent after it reached an agreement to pay $21 million for breaches of anti-money laundering and counterterrorism laws at its Adelaide casino.
Shares in IDP Education soaring more than 11 percent after it raised adjusted EBIT guidance for the full-year 2026.
In the currency market, the Aussie dollar is trading at $0.701 on Friday.
On Wall Street, stocks showed a significant move back to the upside in early trading on Thursday and continued to turn in a strong performance throughout the day, after coming under pressure late in the previous session.
The tech-heavy Nasdaq led the way higher, surging 496.28 points or 1.9 percent to 26,517.93. The S&P 500 also jumped 80.48 points or 1.1 percent to 7,500.58, while the narrower Dow posted a much more modest gain, inching up 72.15 points or 0.1 percent to 51,564.70.
Meanwhile, the major European markets also ended the day mixed. While the U.K.'s FTSE 100 Index slumped by 1 percent, the French CAC 40 Index and the German DAX Index both climbed by 0.4 percent.
Crude oil prices edged lower on Thursday after the reopening of the Strait of Hormuz and the resumption of the free flow of oil from the gulf. West Texas Intermediate crude for July delivery was down $0.53 or 0.69 percent at $76.26 per barrel.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.