Mid-Market: S&P/ASX 200 Trading Higher; Uranium Stocks Shoots Up

On 12 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 52.30 points or 0.65%, and is currently trading at 8,040.20 levels. Out of 11, 9 sectors are trading higher along with the gain in the S&P/ASX 200.

The Information Technology and Energy sectors are the top 2 gaining sectors, gaining 1.35% and 0.90% in their index values. On the other hand, Materials sector is the only declining sector, declining 0.23% in its index value.

Deep Yellow Limited (ASX: DYL) and Paladin Energy Limited (ASX: PDN) are the top-gaining stocks, gaining 8.695% and 8.528% in their stock prices. On the other hand, Spark New Zealand Limited (ASX: SPK) and National Storage REIT (ASX: NSR) are the top-losing stocks and are declining by 4.063% and 3.674% in their stock prices.

Factors influencing the market-

• Australian shares are gaining today after US shares rallied overnight, with a boost from the technology sector even as investors pared back expectations of an outsized interest rate cut by the Federal Reserve next week.
• Brickworks Limited’s shares are declining following flagging a $123.5 million hit in its FY24 results due to a severe deterioration in building activity in Sydney and Brisbane, higher operating costs and a slowdown in the US market.
• Oil prices climbed more than 2% in the previous session, driven by fears of lengthy production shutdowns in the U.S. offshore oil patch, which Hurricane Francine was barreling through on the way to landfall in Louisiana.
• The Dow has closed down by 0.31%, the S&P 500 closed down by 1.07%, and the NASDAQ ended higher by 2.17%.
• Hang Seng is down by 0.73%, and FTSE 100 is down by 0.15%.

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