Mid-Market: S&P/ASX 200 Rallying Today By 1.39%; Mirroring US Market Gains

On 13 July 2023, at AEST 10:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 99.20 points or 1.39%, and is currently trading at 7,234.10 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Materials and A-REIT sectors are the top 2 gaining sectors, gaining 1.54% and 1.28% in their index values.

Virgin Money UK PLC (ASX: VUK) and Perseus Mining Limited (ASX: PRU) are the top-gaining stocks, gaining 6.498% and 4.560% in their stock prices. On the other hand, Whitehaven Coal Limited (ASX: WHC) and RESMED Inc. (ASX: RMD) are the top-losing stocks and are declining by 3.154% and 2.632% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is rallying today after US annual inflation dropped to 3% in June from 4% driven by lower fuel and used car prices, hotels and airfares.
• The materials sector jumped as gold prices jumped overnight to US$1962 an ounce. Among the gold miners Evolution is up 4.3%, with Northern Star jumping 5% and Newcrest gaining 4.6%.
• Dow has closed up by 0.25%, S&P 500 up by 0.74%, and NASDAQ ended higher by 1.15%.
• Hang Seng is up by 1.08%, and FTSE 100 is up by 1.83%.

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