ASX 200 Posts Slightly Positive Close as Mixed Sector Performance Defines Thursday's Trade

Australia’s equity market delivered a modestly positive session on Thursday, with the S&P/ASX 200 index climbing to 8,604.50, a gain of 9.30 points or 0.11 percent. The broader All Ordinaries Index managed a slightly higher reading of 8,895.60, up 1.40 points or 0.02 percent, as investors digested overnight cues from Wall Street and domestic economic releases.

Iron Ore and Energy Stocks Lead Gainers

Mining and energy heavyweights drove the market’s slight upward momentum throughout the session. Rio Tinto surged almost 3 percent, while BHP Group advanced nearly 4 percent, capitalizing on firm commodity prices. Fortescue edged up almost 1 percent, though Mineral Resources slipped nearly 1 percent against the trend. In the energy sector, Santos and Beach Energy both posted gains of almost 1 percent each, with Woodside Energy ticking up 0.4 percent. However, Origin Energy retreated 0.5 percent, providing a slight headwind to sector sentiment.

Technology Stocks Show Modest Strength

The tech space exhibited mixed but generally positive momentum. WiseTech Global climbed nearly 2 percent, leading the sector higher, while Zip added almost 1 percent and Xero inched up 0.1 percent. Fintech players Afterpay owner Block and Appen remained flat, suggesting consolidation in the software space.

Banking Sector Weighs on Broader Market

Australia’s big four banks presented a slightly cautious picture. ANZ Banking managed a modest 0.2 percent gain, but National Australia Bank, Westpac, and Commonwealth Bank all edged down between 0.3 and 0.5 percent, slightly offsetting strength elsewhere in the market.

Gold Miners Retreat Sharply

Precious metals equities faced notable selling pressure. Resolute Mining plunged almost 5 percent, while Northern Star Resources dropped nearly 3 percent. Evolution Mining slipped 0.2 percent, and both Newmont and Genesis Minerals fell more than 2 percent each, reflecting softer gold sentiment.

Corporate Actions and Earnings

Vulcan Energy Resources experienced a sharp reversal, with shares plummeting more than 31 percent following the company’s capital raise of 398 million euros ($710 million) through 178 million new shares at $4.00 per share. The fresh capital will fund the Phase One Lionheart lithium and renewable energy project.

In contrast, Argenica Therapeutics rallied more than 19 percent after announcing positive phase trial results for its stroke treatment candidate, demonstrating investor appetite for biotech developments.

Economic Data Shows Slightly Softer Trade Surplus

Australia’s merchandise trade surplus marginally missed expectations in October, posting A$4.385 billion against forecasts of A$4.420 billion. Exports grew 3.4 percent month-on-month to A$45.977 billion, while imports rose 2.0 percent to A$41.592 billion. The slightly weaker than anticipated trade result underscores ongoing import-export dynamics in the domestic economy.

Currency Markets

The Australian dollar traded at $0.661, reflecting moderate exchange rate stability amid the session’s slightly positive market backdrop.