Mid-Market: S&P/ASX 200 Trading Higher; Orora Rallied By More Than 7%

On 14 August 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 41.30 points or 0.53%, and is currently trading at 7,868.10 levels. Out of 11 sectors, 10 sectors are trading higher along with the gain in the S&P/ASX 200.

The A-REIT and Utilities sectors are the top 2 gaining sectors, gaining 1.10% and 0.95% in their index values. On the other hand, Materials sector is the only declining sector, declining 0.10% in its index value.

Orora Limited (ASX: ORA) and Evolution Mining Limited (ASX: EVN) are the top-gaining stocks, gaining 8.810% and 7.086% in their stock prices. On the other hand, Lifestyle Communities Limited (ASX: LIC) and Charter Hall Social Infrastructure REIT (ASX: CQE) are the top-losing stocks and are declining by 5.538% and 2.930% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is rising today, mirroring US market gains after the latest US inflation reading reinforced expectations that the US Federal Reserve will cut interest rates in September.
• AGL Energy Limited’s shares are rallying after the company posted a turnaround in bottom-line profit.
• Orora Limited rallied after the company reported a revenue bump of 9.5% to $4.29 billion. The company also rejected a $3.3 billion buyout offer from private equity group Lone Star, also outlined a difficult outlook, with large customers in the spirits, wine and beer industries cutting back on orders.
• Brent and U.S. crude oil futures fell in the previous session as traders grew less nervous about the potential for a wider war in the Middle East, with Iran yet to act on threats to retaliate on Israel for assassination of a Hamas official in Tehran.
• The Dow has closed up by 1.04%, the S&P 500 closed up by 1.68%, and the NASDAQ ended higher by 2.40%.
• Hang Seng is up by 0.36%, and FTSE 100 is up by 0.30%.

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