%Mid-Market: S&P/ASX 200 Trading Higher; Due To Slowdown In Core Inflation

On 08 January 2025, at AEDT 12:30 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 42.20 points or 0.51%, and is currently trading at 8,327.30 levels. Out of 11, 5 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Healthcare sectors are the top 2 gaining sectors, gaining 1.18% and 0.65% in their index values. On the other hand, Information Technology and Telecommunication Services sectors are the top 2 declining sectors, declining 0.68% and 0.49% in their index values.

The Star Entertainment Group Limited (ASX: SGR) and Regis Resources Limited (ASX: RRL) are the top-gaining stocks, gaining 5.405% and 4.440% in their stock prices. On the other hand, Deep Yellow Limited (ASX: DYL) and Paladin Energy Limited (ASX: PDN) are the top-losing stocks and are declining by 4.833% and 4.298% in their stock prices.

Factors influencing the market-

• Australian share market trading higher after the monthly headline consumer price index rose 2.3% in annual terms in November, above the consensus forecast and up from 2.1% in October. Core inflation fell to 3.2% from 3.5% in the prior month.
• Avita Medical fell more than 15.2% after the regenerative medicine business downgraded its commercial revenue guidance for 2024, owing to slower purchasing activity.
• West African Resources Limited’s shares are rising following its gold production increased by 7% in December quarter.
• Oil prices trading higher, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand.
• The Dow has closed down by 0.42%, the S&P 500 closed down by 1.11%, and the NASDAQ ended lower by 1.88%.
• Hang Seng is down by 1.51%, and FTSE 100 is down by 0.05%.

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