Mid-Market: S&P/ASX 200 Trading Higher; SGR Dropped More Than 45%

On 27 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 13.30 points or 0.16%, and is currently trading at 8,217.00 levels. Out of 11, 3 sectors are trading higher along with the gain in the S&P/ASX 200.

The Materials and Consumer Staples sectors are the top 2 gaining sectors, gaining 2.02% and 0.28% in their index values. On the other hand, Utilities and Financials sectors are the top 2 declining sectors, declining 0.54% and 0.46% in their index values.

The A2 Milk Company Ltd (ASX: A2M) and Alcoa Corporation (ASX: AAI) are the top-gaining stocks, gaining 12.369% and 6.711% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and Brickworks Limited (ASX: BKW) are the top-losing stocks and are declining by 45.556% and 2.928% in their stock prices.

Factors influencing the market-

• Australian shares are rising today, bolstered by strong gains in US-listed shares of both BHP and Rio Tinto after iron ore re-topped the US$100 a tonne mark in Singapore.
• Global stock indexes reached record highs on Thursday after chipmaker Micron Technology's upbeat forecast, while oil dropped on a media report that Saudi Arabia plans to dump its unofficial crude price target of $100 a barrel.
• Copper rallied back above US$10,000 a tonne and iron ore broke through US$100 after China’s top leaders stepped up efforts to revive economic growth for the world’s largest metals consumer.
• The Dow has closed up by 0.62%, the S&P 500 closed up by 0.40%, and the NASDAQ ended higher by 0.58%.
• Hang Seng is up by 4.16%, and FTSE 100 is up by 0.20%.

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