Mid-Market: S&P/ASX 200 Trading Higher; MinRes Declining By More Than 9%

On 04 November 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 20.00 points or 0.25%, and is currently trading at 8,138.80 levels. Out of 11, 8 sectors are trading higher along with the gain in the S&P/ASX 200.

The Utilities and Information Technology sectors are the top 2 gaining sectors, gaining 1.75% and 1.31% in their index values. On the other hand, Materials and Energy sectors are the top 2 declining sectors, declining 0.50% and 0.46% in their index values.

Westgold Resources Limited (ASX: WGX) and APA Group (ASX: APA) are the top-gaining stocks, gaining 3.225% and 2.794% in their stock prices. On the other hand, Mineral Resources Limited (ASX: MIN) and Deep Yellow Limited (ASX: DYL) are the top-losing stocks and are declining by 9.333% and 3.986% in their stock prices.

Factors influencing the market-

• The Australian share market is gaining today, tracking a positive lead from Wall Street, ahead of a massive week with the US election, corporate earnings, and central bank meetings.
• Mineral Resources Limited’s shares are declining today on news that managing director Chris Ellison will step down within 18 months after the board of the company found he used the company’s resources for his personal benefits.
• Oil prices edged up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in coming days, but record U.S. output weighed on prices.
• The Dow has closed up by 0.69%, the S&P 500 closed up by 0.41%, and the NASDAQ ended higher by 0.80%.
• Hang Seng is up by 0.93%, and FTSE 100 is up by 0.83%.

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