Mid-Market: S&P/ASX 200 Trading Higher By 0.10%; UMG Rallied By 8%

On 03 July 2023, at AEST 10:42 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 7.00 points or 0.10%, and is currently trading at 7,209.90 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200.

The Materials and Utilities sectors are the top 2 gaining sectors, gaining 0.53% and 0.30% in their index values. On the other hand, the Consumer Staples and Healthcare sectors are the top 2 losing sectors, declining 0.14% and 0.09% in their index values.

United Malt Group Limited (ASX: UMG) and Silver Lake Resources Limited (ASX: SLR) are the top-gaining stocks, gaining 9.204% and 4.404% in their stock prices. On the other hand, Link Administration Holdings Limited (ASX: LNK) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-losing stocks and are declining by 4.491% and 1.337% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is rising, lifted by optimism about a pending pause at the Reserve Bank and broadening positive sentiment in New York.
• United Malt surged following it reached an agreement with France’s Malteries Soufflet, with the latter buying the company at AU$5 a share.
• Downer EDI shares gained after it announced that it has entered into an AU$540 million contract to maintain roads for Hamilton City Council in New Zealand.
• Dow has closed up by 0.84%, S&P 500 up by 1.23%, and NASDAQ ended higher by 1.45%.
• Hang Seng is down by 0.09%, and FTSE 100 is up by 0.80%.

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