Mid-Market: S&P/ASX 200 Trading Low; Dragged down by Materials

On 30 July 2024, at AEST 10:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 69.30 points, or 0.87%, to 7,920.30. Along with the S&P/ASX 200, all 11 sectors are trading lower. Materials and Information Technology are the top 2 declining sectors, declining 1.81% and 1.31% in their index values, respectively.

Credit Corp Group Limited (ASX: CCP) and Resmed Inc. (ASX: RMD) are the top-gaining stocks, with stock prices increasing by 4.210% and 3.333%, respectively. Fortescue Limited (ASX: FMG) and Audinate Group Limited (ASX: AD8) are the top-losing stocks, with stock prices declining by 8.698% and 5.000%, respectively.

Factors influencing the market-

• Ramsay Health Care announced that Chief Executive Craig McNally will retire at the end of June 2025.
• Natalie Davis, former Managing Director of Woolworths Supermarkets, will start as CEO elect in October this year.
• Rex Shares remain in a trading halt pending an announcement. The company requested a pause on Monday following weekend reports of engaging Deloitte’s restructuring services.
• In its latest quarterly update, IGO reported underlying earnings before interest, tax, and amortization (EBITA) of $88.2 million.
• Brent crude fell below $US80 a barrel; the Biden administration then purchased 4.65 million barrels for the emergency reserve.
• The Dow closed down by 0.12%, the S&P 500 increased by 0.08%, and the NASDAQ rose by 0.07%.
• The Hang Seng index is up 1.28%, while the FTSE 100 is up 0.08% today.

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