Mid-Market: S&P/ASX 200 Trading Lower; Amid Middle East tensions

On 15 April 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 35.80 points or 0.46%, and is currently trading at 7,752.30 levels. Out of 11 sectors, 9 sectors are trading lower along with the decline in the S&P/ASX 200.

The Materials and Energy sectors are the top 2 gaining sectors, gaining 0.27% and 0.17% in their index values. On the other hand, Information Technology and Utilities sectors are the top 2 declining sectors, declining 1.29% and 1.09% in their index values.

Coronado Global Resources Inc. (ASX: CRN) and Alumina Limited (ASX: AWC) are the top-gaining stocks, gaining 4.621% and 3.166% in their stock prices. On the other hand, Gold Road Resources Limited (ASX: GOR) and The Star Entertainment Group Limited (ASX: SGR) are the top-losing stocks and are declining by 6.044% and 4.951% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 Index is falling today, dragged lower by interest-rate-sensitive technology stocks extending last week’s 1.6% loss, due to increasing geopolitical tensions and soaring bond yields.
• Star Entertainment dropped 5% and was among the worst performers on the ASX 200. The company is bracing for the outcome of a second public inquiry into its Sydney operation.
• Gold prices rises today, attracting some safe haven bids, while oil prices were choppy after Iran's retaliatory attack on Israel over the weekend stoked fears of a wider regional conflict and kept traders on edge for what comes next.
• The Dow has closed down by 1.24%, the S&P 500 down by 1.46%, and the NASDAQ ended lower by 1.62%.
• Hang Seng is down by 2.18%, and FTSE 100 is up by 0.91%.

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