Mid-Market: S&P/ASX 200 Trading Lower; All 11 Sectors Are Trading In Red Zone

On 02 September 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 37.30 points or 0.46%, and is currently trading at 8,054.60 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. On the other hand, A-REIT and Materials sectors are the top 2 declining sectors, declining 0.62% and 0.60% in their index values.

Downer Edi Limited (ASX: DOW) and News Corporation (ASX: NWS) are the top-gaining stocks, gaining 4.293% and 1.594% in their stock prices. On the other hand, Red 5 Limited (ASX: RED) and Persues Mining Limited (ASX: PRU) are the top-losing stocks and are declining by 5.883% and 5.303% in their stock prices.

Factors influencing the market-

• Imugene Limited’s shares shoots up following the release of self-styled “promising results” from a trial of its cancer treatment in 10 patients. The medical developer reported a net loss near $150 million in the FY24.
• Downer EDI is once again rising today, climbing 3.6% after surged 14% on Friday when it swung to an $82 million annual profit after reporting a $386 million net loss a year earlier, when it took hundreds of millions of dollars of write downs.
• Oil prices extended losses with investors weighing higher OPEC+ production from October against a sharp drop in output from Libya amid sluggish demand in China and the U.S., the world's two biggest oil consumers.
• The Dow has closed up by 0.55%, the S&P 500 closed up by 1.01%, and the NASDAQ ended higher by 1.13%.
• Hang Seng is up by 1.14%, and FTSE 100 is down by 0.04%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com