Mid-Market: S&P/ASX 200 Trading Flat; WHC And CHN Are Declining The Most

On 31 August 2023, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading flat today, and is currently trading at 7,296.40 levels. Out of 11 sectors, 7 sectors are trading higher and 4 sectors are trading lower in the S&P/ASX 200.

The Utilities and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.47% and 0.33% in their index values. On the other hand, the Industrials and Materials sectors are the top 2 losing sectors, declining 0.07% and 0.06% in their index values.

IGO Limited (ASX: IGO) and Life360 Inc. (ASX: 360) are the top-gaining stocks, gaining 4.772% and 3.803% in their stock prices. On the other hand, Whitehaven Coal Limited (ASX: WHC) and Chalice Mining Limited (ASX: CHN) are the top-losing stocks and are declining by 7.292% and 6.897% in their stock prices.

Factors influencing the market-

• In the previous session, U.S. stocks ended higher, and the dollar extended its losses, as a slew of disappointing economic data raised the probability that the Federal Reserve will press the pause button in its efforts to rein in inflation.
• Healius Limited’s shares are among the worst-performing shares down 2.6%, after its board recommended a buyout offer from Pacific Equity Partners-backed Harold BidCo.
• IGO Limited’s shares are gaining today after the company reported strong results in its latest full-year report and declared a special dividend..
• Chalice Mining dropped as much as 25% on high pricing assumptions in a scoping study for its WA project continued to fall, down 4.50%.
• Harvey Norman is rising today following posting a strong double-digit slide in profits and dividends over fiscal 2023 but meeting its June guidance.
• The Dow has closed up by 0.11%, the S&P 500 up by 0.38%, and the NASDAQ ended higher by 0.54%.
• Hang Seng is down by 0.01%, and FTSE 100 is up by 0.12%.

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