Mid-Market: S&P/ASX 200 Trading Higher By 0.64%; Tracking Wall Street Gains

On 28 June 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 45.40 points or 0.64%, and is currently trading at 7,163.60 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200.

The Consumer Discretionary and Information Technology sectors are the top 2 gaining sectors, gaining 2.10% and 0.78% in their index values. On the other hand, the Utilities sector is the only losing sector, declining 0.20% in its index value.

Ramsay Healthcare Limited (ASX: RMH) and Syrah Resources Limited (ASX: SYR) are the top-gaining stocks, gaining 6.471% and 4.968% in their stock prices. On the other hand, Bega Cheese Limited (ASX: BGA) and Evolution Mining Limited (ASX: EVN) are the top-losing stocks and are declining by 4.706% and 2.553% in their stock prices.

Factors influencing the market-

• The Australian share market is gaining today, tracking Wall Street’s substantial gains after upbeat U.S. data boosted investors' optimism about the economy's health despite sharply higher borrowing costs.
• Ramsay Healthcare's shares are among the top gainers after announcing that it was mulling once again the sale of the joint venture in Asia with Malaysian partner Sime Darby Berhad.
• Bega Cheese Limited's shares gained marginally after it warned farm gate milk prices would increase again in FY24 but confirmed EBITDA guidance for FY23.
• The dollar index retreated after a host of economic data releases showed the U.S. economy remains resilient and may not be close to a recession, while the euro strengthened after comments from European Central Bank (ECB) President Christine Lagarde.
• Copper prices fell today after signals from a top Chinese official about more economic stimulus were offset by concern over slower growth and rising interest rates in the West.
• Dow has closed up by 0.63%, S&P 500 up by 1.15%, and NASDAQ ended higher by 1.65%.
• Hang Seng is up by 1.88%, and FTSE 100 is up by 0.11%.

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