Mid-Market: S&P/ASX 200 Trading Higher By 0.32%; Lake Resources Rallied By More Than 30%

On 15 August 2023, at AEST 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 23.30 points or 0.32%, and is currently trading at 7,300.40 levels. Out of 11 sectors, 6 sectors are trading higher along with the S&P/ASX 200.

The Healthcare and Information Technology sectors are the top 2 gaining sectors, gaining 2.88% and 1.32% in their index values. On the other hand, the Telecommunication Services and A-REIT sectors are the top 2 losing sectors, declining 0.39% and 0.35% in their index values.

Lake Resources N.L. (ASX: LKE) and Life360 Inc. (ASX: 360) are the top-gaining stocks, gaining 33.333% and 13.528% in their stock prices. On the other hand, Seek Limited (ASX: SEK) and Challenger Limited (ASX: CGF) are the top-losing stocks and are declining by 8.968% and 5.029% in their stock prices.

Factors influencing the market-

• Lake Resources’ shares jumped after the company reported “successful testing” at the lithium brine project, which it said had “proved the concept of extraction and injection to support the production of high purity battery-grade lithium carbonate.”
• Family tracking device company Life360 Inc’s shares, surged after its revenue increased 45% year-on-year to US$70.8 million ($109.1 million).
• The healthcare sector rallied, buoyed by Cochlear. Its shares jumped following it reported a 4% rise in statutory profits to $301 million for the 12 months to June.
• GUD Holdings’s share price is rising after it boosted its statutory net profit by 252% to $98.6 million in 2022-23, helped by a significant acquisition.
• Dow has closed up by 0.07%, S&P 500 up by 0.57%, and NASDAQ ended higher by 1.05%.
• Hang Seng is down by 1.58%, and FTSE 100 is down by 0.23%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com