Mid-Market: S&P/ASX 200 Trading Higher By 0.22%; Led By Mining Stocks

On 25 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 16.60 points or 0.22%, and is currently trading at 7,535.80 levels. Out of 11 sectors, 5 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Healthcare sectors are the top 2 gaining sectors, gaining 1.21% and 0.62% in their index values. On the other hand, A-REIT and Information Technology sectors are the top 2 declining sectors, declining 0.40% and 0.26% in their index values.

Minerals Resources Limited (ASX: MIN) and Resmed Inc. (ASX: RMD) are the top-gaining stocks, gaining 6.183% and 5.981% in their stock prices. On the other hand, Domino’s Pizza Enterprises Limited (ASX: DMP) and Sayona Mining Limited (ASX: SYA) are the top-losing stocks and are declining by 28.020% and 6.819% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is rising led by iron ore miners BHP, Rio Tinto and Fortescue as Iron ore rallied above US$135 after the governor of China’s central bank tipped a cut in the reserve requirement ratio for banks within two weeks.
• Mineral Resources Limited’s shares have jumped and are the best performing on the benchmark after the miner kept its volume and cost guidance unchanged for FY24, saying its Wodgina, Mt Marion and Bald Hill were still profitable at current spodumene prices.
• Domino’s Pizza has crashed by more than 25% after withdrawing its guidance as the company reports slumping sales from its Asia stores.
• Oil prices edged up about 1% in the previous session on a bigger-than-expected U.S. crude storage withdrawal, a slump in U.S. crude output, Chinese economic stimulus, geopolitical tensions and a weaker dollar.
• The Dow has closed down by 0.25%, the S&P 500 up by 0.29%, and the NASDAQ ended higher by 0.43%.
• Hang Seng is up by 3.56%, and FTSE 100 is up by 0.56%

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