Mid-Market: S&P/ASX 200 Trading Higher By 0.22%; PNV Rallied By More Than 10%

On 07 June 2023, at AEST 11:35 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 16.00 points or 0.22%, and is currently trading at 7,145.60 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200.

The Information Technology and Materials sectors are the top 2 gaining sectors, gaining 1.25% and 0.89% in their index values. On the other hand, the Energy and A-REIT sectors are the top 2 losing sectors, declining 0.71% and 0.040% in their index values.

Polynovo Limited (ASX: PNV) and Block Inc. (ASX: SQ2) are the top-gaining stocks, gaining 10.652% and 5.360% in their stock prices. On the other hand, Beach Energy Limited (ASX: BPT) and The A2 Milk Company Limited (ASX: A2M) are the top-losing stocks and are declining by 7.043% and 3.493% in their stock prices.

Factors influencing the market-

• Viva Energy shares are declining after it flagged a loss of up to $35 million per month following an accident involving a crane and damage to a compressor at its Geelong Refinery.
• PolyNovo rallied following it posted a record monthly sale of $7.2 million in May, led by $5.2 million in the United States.
• Oil steadied amid persistent concerns over the demand outlook following a short-lived bounce on Saudi Arabia’s pledge to cut more supply.
• Gold prices moved little today as markets hunkered down ahead of an upcoming Federal Reserve meeting, while copper prices extended a rebound from six-month lows.
• Dow has closed up by 0.03%, S&P 500 up by 0.24%, and NASDAQ ended higher by 0.36%.
• Hang Seng is down by 0.05%, and FTSE 100 is up by 0.37%.

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