Mid-Market: S&P/ASX 200 Trading Higher; PMV Gained More Than 10%

On 29 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 33.40 points or 0.41%, and is currently trading at 8,254.50 levels. Out of 11, 7 sectors are trading higher along with the gain in the S&P/ASX 200.

The A-REIT and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 1.35% and 0.83% in their index values. On the other hand, Utilities and Energy sectors are the top 2 declining sectors, declining 0.60% and 0.54% in their index values.

Premier Investments Limited (ASX: PMV) and Zip Co Limited (ASX: ZIP) are the top-gaining stocks, gaining 13.244% and 10.931% in their stock prices. On the other hand, Coronado Global Resources Inc. (ASX: CRN) and Resmed Inc. (ASX: RMD) are the top-losing stocks and are declining by 4.977% and 3.584% in their stock prices.

Factors influencing the market-

• The Australian share market climbed, tracking gains on Wall Street, paced by gains in consumer stocks after Myer agreed to buy Premier investments apparel brands business.
• Cettire Limited’s shares declined, despite booking a 22% increase in its sales revenue to $155 million for the first quarter of FY25. The company booked its adjusted earnings before interest, tax and amortisation at $2 million.
• Oil prices plunged at the start of the week after Israeli strikes against targets in Iran avoided the OPEC member’s crude facilities, raising the prospect that hostilities in the region may ease.
• The Dow has closed up by 0.65%, the S&P 500 closed up by 0.27%, and the NASDAQ ended higher by 0.27%.
• Hang Seng is up by 0.04%, and FTSE 100 is up by 0.45%.

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