Mid-Market: S&P/ASX 200 Trading Higher; ECB Delivers Landmark Rate Cut

On 07 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 15.90 points or 0.20%, and is currently trading at 7,837.70 levels. Out of 11 sectors, 6 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Utilities sectors are the top 2 gaining sectors, gaining 1.11% and 0.77% in their index values. On the other hand, Information Technology and Healthcare sectors are the top 2 declining sectors, declining 0.28% and 0.10% in their index values.

Regis Resources Limited (ASX: RRL) and Boss Energy Ltd (ASX: BOE) are the top-gaining stocks, gaining 3.369% and 3.348% in their stock prices. On the other hand, Life360 Inc. (ASX: 360) and Sigma Healthcare Limited (ASX: SIG) are the top-losing stocks and are declining by 3.676% and 1.695% in their stock prices.

Factors influencing the market-

• Australian shares are rising at the open as gains among iron ore, lithium, and coal miners were offset by weakness in the healthcare and tech sectors.
• Oil settled up 2% in the previous session after the European Central Bank opted to cut interest rates, spurring hopes that the Fed will follow suit, and OPEC+ ministers reassured investors the latest oil output agreement could change depending on the market.
• The Dow has closed up by 0.20%, the S&P 500 closed down by 0.02%, and the NASDAQ ended lower by 0.10%.
• Hang Seng is up by 0.28%, and FTSE 100 is up by 0.47%.

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