Mid-Market: S&P/ASX 200 Trading Flat; ANZ Rises After ACCC Rejects Its Acquisition of SUN’s Banking Arm

On 04 August 2023, at AEST 11:10 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,310.40 levels. Out of 11 sectors, 4 sectors are trading higher and 7 sectors are trading lower.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 1.25% and 0.54% in their index values. On the other hand, the Healthcare and Information Technology sectors are the top 2 losing sectors, declining 1.76% and 1.15% in their index values.

Beach Energy Limited (ASX: BPT) and Karoon Energy Limited (ASX: KAR) are the top-gaining stocks, gaining 1.869% and 1.860% in their stock prices. On the other hand, Resmed Inc. (ASX: RMD) and Block Inc. (ASX: SQ2) are the top-losing stocks and are declining by 11.212% and 10.552% in their stock prices.

Factors influencing the market-

• The Australian share market is trading flat after Dow ended lower in the previous session as rising Treasury yields to multi-month highs weighed on sentiment ahead of Friday's jobs report.
• Afterpay parent Block Inc's shares tumbled sharply, tracking a similar move on Wall Street despite results beating forecasts with investors seemingly pessimistic about the Australian market compared to others.
• ANZ Bank shares rose after Australia's competition regulator denied authorization for ANZ Group Holdings to proceed with its proposed AU$4.9 billion acquisition of Suncorp Group's banking arm.
• Dow has closed down by 0.19%, S&P 500 down by 0.25%, and NASDAQ ended lower by 0.10%.
• Hang Seng is down by 0.49%, and FTSE 100 is down by 0.43%.

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