Mid-Market: S&P/ASX 200 Trading Higher By 0.22%; Buoyed by Utilities

On 9 June 2023, at AEST 10:52 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining  15.40 points or 0.22%, and is currently trading at 7,115.10 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200.

The Utilities and Materials sectors are the top-gaining sectors, gaining 1.56% and 1.04% in their index values. On the other hand, the Information Technology and A-REIT sectors were the top losing sectors, declining 4.51% and 2.84% in their index values.

Nickel Industries Limited (ASX: NIC) and Imugene Limited (ASX: IMU) are the top-gaining stocks, gaining 9.826% and 7.526% in their stock prices. On the other hand, ALS Limited (ASX: ALQ) and Block Inc. (ASX: SQ2) are the top-losing stocks and are declining by 2.145% and 1.763% in their stock prices.

Factors influencing the market-

• Suncorp has responded to the ACCC's preliminary statement of views on the merger of ANZ and Suncorp Bank, following ANZ's earlier response.
• The S&P 500 Index entered a bull market as stocks rallied, rebounding from last year's lows due to optimism surrounding the Federal Reserve's nearing end of interest-rate hikes.
• Jennifer Morris will be stepping down from her position on the board of Fortescue Metals, according to an announcement by the company.
• HSBC anticipates a cash rate increase to 4.35% by the Reserve Bank of Australia in August, with a potential risk of a 4.6% rate rise.
• The Dow experienced a 0.59% decline, the S&P 500 closed with a 0.20% decline, and the NASDAQ ended with a 0.09% decline.
• The Hang Seng index is up by 0.25%, while the FTSE 100 has declined by -0.32% today.

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