Mid-Market: S&P/ASX 200 Marginally Lower By 0.06%; FPH Shares Are Declining By More Than 4%

On 26 May 2023, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 3.50 points or 0.06%, and is currently trading at 7,136.80 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200.

The Materials and Financials sectors are the top 2 gaining sectors, gaining 0.47% and 0.44% in their index values. On the other hand, the Healthcare and A-REIT sectors are the top 2 losing sectors, declining 0.83% and 0.68% in their index values.

Nickel Industries Limited (ASX: NIC) and Lake Resources N.L. (ASX: LKE) are the top-gaining stocks, gaining 3.030% and 2.777% in their stock prices. On the other hand, Fisher & Paykel Healthcare Corporation Limited (ASX: FPH) and CSR Limited (ASX: CSR) are the top-losing stocks and are declining by 4.752% and 4.673% in their stock prices.

Factors influencing the market-

• Fisher & Paykel’s share price is declining as the company reported a 6% decline in revenue to NZ$1.6 billion in FY23, and net profit declined by 34% to NZ$250 million.
• Oil prices closed lower in the previous session following Russian Deputy Prime Minister Alexander Novak playing down the prospect of further OPEC+ production cuts at its meeting next week.
• Dow has closed down by 0.11%, S&P 500 up by 0.88%, and NASDAQ ended higher by 1.71%.
• Hang Seng is down by 1.93%, and FTSE 100 is down by 0.74%.

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