Mid-Market: S&P/ASX 200 Trading Higher; Mining Stocks Rallied On Higher Gold, Copper Prices

Source: Kapitales Research

On 04 February 2026, at AEDT 12:45 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 30.00 points or 0.34%, and is currently trading at 8,887.10 levels. Out of 11, 3 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Energy sectors are the top 2 gaining sectors, gaining 3.16% and 2.08% in their index values. On the other hand, Information Technology and Telecommunication Services sectors are the top 2 declining sectors, declining 7.34% and 1.77% in their index values.

Northern Star Resources Limited (ASX: NST) and Silex Systems Limited (ASX: SLX) are the top-gaining stocks, gaining 5.913% and 5.775% in their stock prices. On the other hand, Xero Limited (ASX: XRO) and Web Travel Group Limited (ASX: WEB) are the top-losing stocks and are declining by 12.867% and 9.003% in their stock prices.

Factors influencing the market-

• Australian share market moved into positive territory, recovering early losses as investors returned to mining stocks following a rebound in metal prices. Mining stocks advanced after gold surged back above US$5000 an ounce, while copper jumped more than 4% in London trading to US$13,478.
• Technology stocks were the clear laggards, plunging 7.34% following a sharp sell-off on Wall Street driven by fears that AI could threaten traditional software firms. Xero slumped 12.86% to its lowest level in about three years, while WiseTech Global fell 8.7%.
• Synlait Milk shares slid after the company warned it expects to report a first-half net loss of up to NZ$82 million, citing ongoing manufacturing problems at its Dunsandel facility and margin pressure from extra raw milk sales.
• Origin Energy Limited’s shares declined after announcing that Andrew Thornton, head of integrated gas, will step into the role of executive general manager of energy supply and operations from July 1.
• The Dow Jones closed down by 0.34%, S&P 500 declined by 0.84% and Nasdaq was down by 1.43% in the previous session.
• Hang Seng is up by 0.06%, and FTSE 100 is down by 0.26%.

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