Mid-Market: S&P/ASX 200 Trading Flat; Mirroring Modest Gains On Wall Street

On 13 February 2024, at AEDT 11:50 AM, the benchmark index S&P/ASX 200 is trading flat today, declining 8.20 points or 0.11%, and is currently trading at 7,606.70 levels. Out of 11 sectors, 6 sectors are trading higher despite the decline in the S&P/ASX 200.

The Financials and Utilities sectors are the top 2 gaining sectors, gaining 0.73% and 0.62% in their index values. On the other hand, Healthcare and Telecommunication Services sectors were the top 2 declining sectors, declining 2.06% and 0.98% in their index values.

Challenger Limited (ASX: CGF) and Genesis Minerals Limited (ASX: GMD) are the top-gaining stocks, gaining 8.738% and 3.733% in their stock prices. On the other hand, Strike Energy Limited (ASX: STX) and Breville Group Limited (ASX: BRG) are the top-losing stocks and are declining by 5.261% and 4.036% in their stock prices.

Factors influencing the market-

• Australian shares are trading flat, tracking modest gains on Wall Street, as real estate and consumer stocks offset losses in tech and healthcare with reporting season in full swing.
• CSL Limited’s shares are falling as investors shrugged off a 17% jump in net profit, a higher dividend and the company reaffirming full-year guidance.
• Temple & Webster rallied today after revenue rose 23% driven by growth in repeat and new customers.
• James Hardie Group’s shares declined after reporting adjusted earnings of US$280.4 million in the 3QFY24, representing a margin of 28.7%.
• Oil futures settled little changed in the previous session as concerns about interest rates and global demand caused the market to take a break after prices jumped about 6% last week on worries that Middle East tensions could cause supply problems.
• The Dow has closed up by 0.33%, the S&P 500 down by 0.09%, and the NASDAQ ended lower by 0.30%.
• Hang Seng is down by 0.83%, and FTSE 100 is up by 0.01%.

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