Mid-Market: S&P/ASX 200 Trading Higher; CKF’s NPAT Increased by 502%

On 25 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 49.30 points or 0.64%, and is currently trading at 7,783.30 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Financial and Materials sectors are the top 2 gaining sectors, gaining 0.49% and 0.48% in their index values.

Collins Food Limited (ASX: CKF) and Charter Hall Group (ASX: CHC) are the top-gaining stocks, gaining 7.510% and 2.727% in their stock prices. On the other hand, Paladin Energy Limited (ASX: PDN) and Red 5 Limited (ASX: RED) are the top-losing stocks and are declining by 7.176% and 4.878% in their stock prices.

Factors influencing the market-

• Australian shares are trading higher, tracking gains on Wall Street where equities touched record highs even as Nvidia and other semiconductor stocks extended their sell-off.
• Nvidia weighed on the share market, falling 6.7% and dragging its market value to US$2.91 trillion as more investors cashed out after its stunning surge year-to-date. The stock has tumbled 13% in three sessions, ending its brief stint as the world’s most valuable company.
• Collins Foods’ shares are gaining today after its net profit jumped 502% to $76.7 million in fiscal 2024, from a year ago, allowing the company to lift total dividends by one full cent to 28¢ from 2024.
• ResMed Limited’s shares are extending yesterday’s 13% decline at the open of trading this morning, as concerns about the impact of a new weight-loss drug trial continue to send investors fleeing the sleep apnoea treatment provider.
• Oil prices are rising today, spurred by the prospect of a strong northern summer driving demand and as tensions in the Middle East and drone attacks on Russian refineries led to concerns about supply.
• The Dow has closed up by 0.67%, the S&P 500 closed down by 0.31%, and the NASDAQ ended lower by 1.07%.
• Hang Seng is trading flat, and FTSE 100 is up by 0.53%.

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