Mid-Market: S&P/ASX 200 Trading Higher; Buoyed By Energy Sector

On 19 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 7.20 points or 0.09%, and is currently trading at 7,770.80 levels. Out of 11 sectors, 6 sectors are trading higher along with the gain in the S&P/ASX 200.

The Energy and A-REIT sectors are the top 2 gaining sectors, gaining 1.08% and 0.40% in their index values. On the other hand, Telecommunication Services and Healthcare sectors are the top 2 declining sectors, declining 0.43% and 0.09% in their index values.

Light & Wonder Inc. (ASX: LNW) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-gaining stocks, gaining 3.790% and 3.255% in their stock prices. On the other hand, Helia Group Limited (ASX: HLI) and Beach Energy Limited (ASX: BPT) are the top-losing stocks and are declining by 8.057% and 2.615% in their stock prices.

Factors influencing the market-

• Helia Group Limited’s shares are the worst performing after Commonwealth Bank of Australia flagged potential changes to the companies’ existing lenders mortgage insurance contract. The existing contract accounted for more than half of Helia’s gross written premium in 2023.
• QBE Insurance is declining today after it will close its North American middle-market business, saying the segment has “experienced performance challenges over several years”.
• Oil rose to the highest in more than a month as risk-on sentiment bolsters broader global markets.
• The Dow has closed up by 0.15%, the S&P 500 closed up by 0.25%, and the NASDAQ ended higher by 0.02%.
• Hang Seng is down by 0.11%, and FTSE 100 is up by 0.60%.

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