Mid-Market: S&P/ASX 200 Trading Lower; AGL Energy Declined By More Than 6%

On 31 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 19.90 points or 0.24%, and is currently trading at 8,160.50 levels. Out of 11, 7 sectors are trading lower along with the decline in the S&P/ASX 200.

The Consumer Discretionary and Information Technology sectors are the top 2 gaining sectors, gaining 0.79% and 0.45% in their index values. On the other hand, Utilities and Consumer Staples sectors are the top 2 declining sectors, declining 1.02% and 0.75% in their index values.

Mineral Resources Limited (ASX: MIN) and JB Hi-Fi Limited (ASX: JBH) are the top-gaining stocks, gaining 15.521% and 5.904% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and AGL Energy Limited (ASX: AGL) are the top-losing stocks and are declining by 6.863% and 6.278% in their stock prices.

Factors influencing the market-

• Mineral Resources Limited’s share price gained after striking a $1.1 billion deal to sell its oil and gas assets to Gina Rinehart’s Hancock Prospecting. The miner expects to hand down its conclusions from an investigation into the tax affairs of managing director Chris Ellison by Monday.
• Oil prices rebounded in the previous session, rising more than 2% after data showed U.S. crude and gasoline inventories fell unexpectedly last week and on reports that OPEC+ may delay a planned oil output increase.
• The Dow has closed down by 0.22%, the S&P 500 closed down by 0.33%, and the NASDAQ ended lower by 0.49%.
• Hang Seng is down by 1.55%, and FTSE 100 is down by 0.73%.

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