Mid-Market: S&P/ASX 200 Trading Higher; Audinate Group Falls By More Than 33%

On 06 August 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining  49.50 points or 0.65%, and is currently trading at 7,699.10 levels. Out of 11 sectors, 7 sectors are trading lower despite the gain in the S&P/ASX 200.

The Financials and A-REIT sectors are the top 2 gaining sectors, gaining 0.36% and 0.29% in their index values. On the other hand, Energy and Healthcare sectors are the top 2 declining sectors, declining 1.75% and 0.95% in their index values.

Deep Yellow Limited (ASX: DYL) and Zip Co Limited (ASX: ZIP) are the top-gaining stocks, gaining 5.555% and 4.613% in their stock prices. On the other hand, Audinate Group Limited (ASX: AD8) and Emerald Resources Limited (ASX: EMR) are the top-losing stocks and are declining by 33.109% and 5.402% in their stock prices.

Factors influencing the market-

• The Australian share market is trying to gaining at open before giving way to further selling after heavy losses, triggered by rising concerns that the US is heading towards a recession, washed across Europe and hit an already nervous Wall Street.
• Coronado Global Resources is declining today following it announced that its revenue slumped 10% to $1342 million in the half-year due to lower average metallurgical coal prices.
• Oil prices are rising, reversing the previous session's loss as concerns that an escalating Middle East conflict could hit supplies outweighed fears of a possible U.S. recession that could hurt demand in the world's top oil consumer.
• The Dow has closed down by 2.60%, the S&P 500 closed down by 3.00%, and the NASDAQ ended lower by 3.38%.
• Hang Seng is trading flat, and FTSE 100 is down by 2.04%.

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