Mid-Market: S&P/ASX 200 Sharply Higher By 0.71%; All 11 Sectors Are Trading In Green Zone

On 27 December 2023, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 53.60 points or 0.71%, and is currently trading at 7,555.20 levels. All 11 sectors are trading higher along with the S&P/ASX 200. The Materials and Energy sectors are the top 2 gaining sectors, gaining 0.76% and 0.68% in their index values.

Arcadium Lithium Plc (ASX: LTM) and Neuren Pharmaceuticals Limited (ASX: NEU) are the top-gaining stocks, gaining 8.316% and 4.620% in their stock prices. On the other hand, Core Lithium Ltd (ASX: CXO) and Light & Wonder Inc. (ASX: LNW) are the top-losing stocks and are declining by 7.693% and 2.992% in their stock prices.

Factors influencing the market-

• The Australian share market rallied in the first session after Christmas, fuelled by a rally in the price of iron ore to a 1.5  year high of US$140 (AU$205) a tonne.
• Drilling company Boart Longyear gained more than 50% after it agreed to be acquired by an affiliate of private equity firm American Industrial Partners. The deal values the company at US$371 million.
• Oil edged higher as shipping disruptions in the Red Sea continued to be frustrated by Houthi attacks against vessels. Global benchmark Brent crude rose 2.5% to US$81 a barrel.
• The Dow has closed up by 0.43%, the S&P 500 up by 0.42%, and the NASDAQ ended higher by 0.54%.
• Hang Seng is down by 1.69%, and FTSE 100 is up by 0.04%

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