%Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Miners

On 11 November 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 26.50 points or 0.32%, and is currently trading at 8,268.10 levels. Out of 11, 7 sectors are trading higher despite the loss in the S&P/ASX 200.

The A-REIT and Information Technology sectors are the top 2 gaining sectors, gaining 1.38% and 1.15% in their index values. On the other hand, Materials and Consumer Staples sectors are the top 2 declining sectors, declining 1.99% and 1.10% in their index values.

Zip Co Limited (ASX: ZIP) and Light & Wonder Limited (ASX: LNW) are the top-gaining stocks, gaining 5.076% and 3.099% in their stock prices. On the other hand, Champion Iron Limited (ASX: CIA) and Iluka Resources Limited (ASX: ILU) are the top-losing stocks and are declining by 7.920% and 4.975% in their stock prices.

Factors influencing the market-

• The Australian share market is declining today, with losses led by miners and energy after authorities in China failed to impress with their latest stimulus package.
• Liontown Resources Limited’s shares are rising following the company announced that it expected $775 million to $855 million dry metric tonnes sold unit operating costs in the 2HFY25 as management focuses on higher-margin ore in response to lower lithium prices.
• Gold prices dropped in the previous week, logging their steepest weekly decline in over five months, pressured by a stronger dollar and as markets absorbed the implications of Donald Trump’s victory and its potential impact on US interest rate expectations.
• The Dow has closed up by 0.59%, the S&P 500 closed up by 0.38%, and the NASDAQ ended higher by 0.09%.
• Hang Seng is down by 1.07%, and FTSE 100 is down by 0.84%.

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