Mid-Market: S&P/ASX 200 Trading Higher By 0.17%; Buoyed By Energy Stocks

On 08 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 12.80 points or 0.17%, and is currently trading at 7,501.90 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Energy and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.93% and 0.19% in their index values. On the other hand, Utilities and Consumer Staples sectors are the top 2 gaining sectors, gaining 0.26% and 0.13% in their index values.

Boss Energy Ltd (ASX: BOE) and Paladin Energy Ltd (ASX: PDN) are the top-gaining stocks, gaining 9.929% and 4.187% in their stock prices. On the other hand, Core Lithium Ltd (ASX: CXO) and Sayona Mining Limited (ASX: SYA) are the top-losing stocks and are declining by 11.957% and 4.099% in their stock prices.

Factors influencing the market-

• Australian shares are higher, after a difficult start to the year last week, as traders await more information about the state of the global economy’s inflation woes.
• GQG Partners is trading higher today after reportedly pulling in US$9.9 billion (AU$14.9 billion) to its funds during last year, bringing the wealth giant’s FUM to a record US$120.6 billion (AU$179.6 billion).
• Red 5 Limited’s shares are rising after the company announced that it is on track to hit the upper range of its FY24 guidance following another quarter of production from its King of the Hills project in WA.
• The Dow has closed up by 0.03%, the S&P 500 down by 0.34%, and the NASDAQ ended lower by 0.56%.
• Hang Seng is down by 0.66%, and FTSE 100 is down by 0.43%

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