Mid-Market: S&P/ASX 200 Trading Higher By 0.56%; Mining Stock Jumps

On 02 June 2023, at AEST 11:10 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 39.80 points or 0.56%, and is currently trading at 7,150.60 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The Materials and Telecommunication Services sectors are the top 2 gaining sectors, gaining 1.70% and 0.69% in their index values. On the other hand, the Financials and Industrials sectors are the top 2 losing sectors, declining 0.11% and 0.02% in their index values.

Paladin Energy Limited (ASX: PDN) and Pilbara Minerals Limited (ASX: PLS) are the top-gaining stocks, gaining 7.024% and 3.456% in their stock prices. On the other hand, Lovisa Holdings Limited (ASX: LOV) and Healius Limited (ASX: HLS) are the top-losing stocks and are declining by 1.826% and 1.287% in their stock prices.

Factors influencing the market-

• Pilbara Minerals, New Crest, and Sandfire Resources are gaining by more than 2% after Copper led base metals higher in London and iron ore climbed 3.9%.
• Gold and copper prices are lower today as markets hunkered down ahead of key nonfarm payrolls data for more cues on the U.S. economy, although both metals marked a strong recovery from recent lows this week.
• Dow has closed up by 0.47%, S&P 500 up by 0.99%, and NASDAQ ended higher by 1.28%.
• Hang Seng is down by 0.10%, and FTSE 100 is up by 0.59%.

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