Mid-Market: S&P/ASX 200 Trading Higher By 1.19%; All 11 Sectors Are Trading In Red

On 05 February 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 91.60 points or 1.19%, and is currently trading at 7,607.80 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Materials and A-REIT sectors are the top 2 declining sectors, declining 1.98% and 1.48% in their index values.

Pro Medicus Limited (ASX: PME) and Johns Lyng Group Limited (ASX: JLG) are the top-gaining stocks, gaining 2.891% and 2.588% in their stock prices. On the other hand, Silver Lake Resources Limited (ASX: SLR) and Fletcher Building Limited (ASX: FBU) are the top-losing stocks and are declining by 14.823% and 9.134% in their stock prices.

Factors influencing the market-

• The Australian share market trading sharply lower in broad losses on today, retreating from last week’s record high, with miners and energy taking the brunt.
• Argo Investments slipped after reporting lower profit in the first half-year due to lower dividends from mining giants BHP and Rio Tinto.
• Collins Foods Limited’s shares are declining following the company’s Chief executive Drew O’Malley is taking a three-month leave of absence and former CEO Kevin Perkins is stepping back in the role.
•  Silver Lake Resources Limited tumbled on news that it was merging with Red 5 in a scheme of arrangement under which Red 5 will buy 100% of Silver Lake shares.
• Oil prices bounced back today on disruption fears after the US and Britain launched weekend airstrikes in Iraq, Syria, and Yemen against Iran-linked targets in retaliation for a deadly attack on American troops.
• The Dow has closed up by 0.35%, the S&P 500 up by 1.07%, and the NASDAQ ended higher by 1.74%.
• Hang Seng is down by 0.21%, and FTSE 100 is down by 0.09%

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