Mid-Market: S&P/ASX 200 Trading Flat; Paladin Energy Limited Bounced Back

On 01 June 2023, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading flat, and is currently trading at 7,092.00 levels. Out of 11 sectors, 6 sectors are trading higher.

The Information Technology and Consumer Staples sectors are the top 2 gaining sectors, gaining 0.96% and 0.56% in their index values. On the other hand, the Industrials and Materials sectors are the top 2 losing sectors, declining 0.34% and 0.23% in their index values.

Paladin Energy Limited (ASX: PDN) and Persues Mining Limited (ASX: PRU) are the top-gaining stocks, gaining 9.174% and 3.835% in their stock prices. On the other hand, Champion Iron Limited (ASX: CIA) and Nickel Industries Limited (ASX: NIC) are the top-losing stocks and are declining by 9.834% and 4.749% in their stock prices.

Factors influencing the market-

• Paladin Energy Limited’s shares bounced back from Tuesday’s 20% plunge to be up 8.7%.
• Oil prices are declining today for the third straight session after data indicated an unexpected, large build in U.S. crude stocks last week, causing fears of an oversupply amid signs of weaker Chinese demand.
• Gold prices are rising, extending a recovery from two-month lows amid resurgent bets that the Federal Reserve will hold interest rates steady in June, while focus remained on an ongoing vote to raise the U.S. debt ceiling. 
• Dow has closed down by 0.41%, S&P 500 down by 0.61, and NASDAQ ended lower by 0.63%.
• Hang Seng is down by 1.94%, and FTSE 100 is down by 1.01%.

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