Mid-Market: S&P/ASX 200 Sharply Lower By 0.98%; CMM Is Declining By More Than 9%

On 05 December 2023, at AEDT 11:45 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 69.80 points or 0.98%, and is currently trading at 7,054.70 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.0

The Utilities and Healthcare sectors are the top 2 gaining sectors, gaining 0.63% and 0.29% in their index values. On the other hand, the Materials and Information Technology sectors are the top 2 losing sectors, declining 1.97% and 1.07% in their index values.

Origin Energy Limited (ASX: ORG) and Insurance Australia Group Limited (ASX: IAG) are the top-gaining stocks, gaining 13.978% and 5.774% in their stock prices. On the other hand, Capricorn Metals Limited (ASX: CMM) and Liontown Resources Limited (ASX: LTR) are the top-losing stocks and are declining by 9.260% and 7.170% in their stock prices.

Factors influencing the market-

• Australian shares are lower, tracking a dip on Wall Street after the recent strong rally encouraged investors to take profit in the mega cap tech stocks and as bond yields reversed.
• Capricorn Metals Limited’s shares are falling sharply after Chairman Mark Clark and director Mark Okeby sold 5 million and 2 million shares, respectively.
• Evolution Mining has halted its shares before a $525 million share placement to fund an 80% stake in New South Wales gold and copper mine Northparkes.
• Oil prices declined for the third straight session as persistent scepticism about the effectiveness of OPEC+ supply cuts overshadowed multiple bullish developments.
• The Dow has closed down by 0.11%, the S&P 500 down by 0.54%, and the NASDAQ ended lower by 0.84%.
• Hang Seng is down by 1.09%, and FTSE 100 is down by 0.22%

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