Mid-Market: S&P/ASX 200 Trading Higher; Gained By Stronger Iron Ore Prices

On 18 April 2024, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 36.00 points or 0.47%, and is currently trading at 7,641.60 levels. Out of 11 sectors, 8 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 1.10% and 0.61% in their index values. On the other hand, Healthcare and Telecommunication Services sectors are the top 2 declining sectors, declining 0.30% and 0.30% in their index values.

Telix Pharmaceuticals Limited (ASX: TLX) and Challenger Limited (ASX: CGF) are the top-gaining stocks, gaining 12.280% and 7.098% in their stock prices. On the other hand, Resmed Inc. (ASX: RMD) and Evolution Mining Limited (ASX: EVN) are the top-losing stocks and are declining by 5.194% and 3.005% in their stock prices.

Factors influencing the market-

• Australian shares gained at the opening bell as iron ore majors BHP, Fortescue and Rio Tinto gained on a stronger iron ore price.
• BlueScope Steel Limited’s shares gained after US President Biden said the country would lift tariffs on Chinese steel imports.
• South32 Limited’s shares are rising as copper and base metal prices climbed. The company is due to provide an operational update on Monday including over the status of its stricken Groote Island manganese project.
• Oil prices rises today, slightly paring the previous session's losses after the United States said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran.
• The Dow has closed down by 0.12%, the S&P 500 down by 0.58%, and the NASDAQ ended lower by 1.15%.
• Hang Seng is up by 0.02%, and FTSE 100 is up by 0.35%.

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