%Mid-Market: S&P/ASX 200 Trading Higher; Buoyed By Tech And REIT Sectors

On 06 January 2025, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 19.90 points or 0.24%, and is currently trading at 8,270.40 levels. Out of 11, 9 sectors are trading higher along with the gain in the S&P/ASX 200.

The Information Technology and A-REIT sectors are the top 2 gaining sectors, gaining 1.79% and 1.03% in their index values. On the other hand, Materials and Consumer Staples sectors are the top 2 declining sectors, declining 1.12% and 0.30% in their index values.

Insignia Financial Limited (ASX: IFL) and Block Inc. (ASX: SQ2) are the top-gaining stocks, gaining 12.711% and 5.285% in their stock prices. On the other hand, Bellevue Gold Limited (ASX: BGL) and Alcoa Corporation (ASX: AAI) are the top-losing stocks and are declining by 8.734% and 5.162% in their stock prices.

Factors influencing the market-

• Australian shares edged higher on Monday after Wall Street reversed a five-session losing streak that had shaved almost US$1 billion (AU$1.6 billion) off the greenback’s market capitalisation.
• Insignia Financial shares gained more than 10% after the company announced a $4.30 per share takeover bid from private equity firm CC Capital Partners.
• DroneShield jumped following the company announced a $9.7 million order from a major Latin American military customer.
• The material sector is trading in red after Iron Ore, the steelmaking ingredient continues to trade below US$100 a tonne.
• The Australian dollar fell further to trade at about US62¢ after the Chinese yuan dropped sharply against the greenback earlier last week. The Australian currency is regarded as a proxy for China’s growth and tends to fluctuate with the country’s fortunes.
• The Dow has closed up by 0.80%, the S&P 500 closed up by 1.26%, and the NASDAQ ended higher by 1.77%.
• Hang Seng is up by 0.70%, and FTSE 100 is down by 0.44%.

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