(RTTNews) - The Australian stock market is modestly lower on Monday, with the benchmark S&P/ASX 200 staying just above the 6,700 level, weighed down by weakness in major miners and financial stocks. The cues were mixed from Wall Street on Friday.
The benchmark S&P/ASX 200 Index is losing 4.70 points or 0.07 percent to 6,762.10, after hitting a low of 6,727.50 earlier. The broader All Ordinaries Index is down 6.80 points or 0.10 percent to 7,007.80. Australian stocks closed higher on Friday.
Among the major miners, BHP Group is declining more than 1 percent, while Rio Tinto and OZ Minerals are losing almost 3 percent each. Fortescue Metals is down more than 4 percent and Mineral Resources is losing more than 2 percent.
Oil stocks are mostly higher, with Oil Search edging up 0.5 percent, Woodside Petroleum adding almost 1 percent, and Santos gaining more than 1 percent.
The big four banks are higher. National Australia Bank and ANZ Banking are edging down 0,6 percent each, while Westpac is lower by nearly 0.5 percent and Commonwealth Bank is declining almost 1 percent.
Among tech stocks, Afterpay is lower by almost 3 percent and WiseTech Global is edging up 0.5 percent, while Appen is edging down 0.4 percent.
Gold miners are higher, with Newcrest Mining and Northern Star Resources edging up 0.4 percent each, while Evolution Mining is adding more than 3 percent.
In the currency market, the Aussie dollar is trading at $0.777 on Monday.
On Wall Street, extending its winning streak to six consecutive sessions, the Dow showed a strong move to the upside during trading on Friday, The blue chip index jumped 293.05 points or 0.9 percent to a new record closing high of 32,778.64.
The S&P 500 also inched up 4.00 points or 0.1 percent to a new record closing high of 3,943.34, while the tech-heavy Nasdaq climbed well off its worst levels of the day but still closed down 78.81 points or 0.6 percent at 13,319.86.
The major European markets turned in a mixed performance on the day. While the German DAX Index fell by 0.5 percent, while the French CAC 40 Index edged up by 0.2 percent and the U.K.'s FTSE 100 Index rose by 0.4 percent.
Crude oil prices fluctuated on Friday as traders remained optimistic about the outlook for energy demand but seemed reluctant to continue pushing oil prices higher. West Texas Intermediate crude for April delivery closed down $0.41 at $65.61 a barrel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
