Mid-Market: S&P/ASX 200 Trading Lower; Brent Crude Prices Hits US$87

On 05 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 15.70 points or 0.20%, and is currently trading at 7,816.10 levels. Out of 11 sectors, 8 sectors are trading lower along with the decline in the S&P/ASX 200.

The Consumer Discretionary and Healthcare sectors are the top 2 gaining sectors, gaining 0.09% and 0.03% in their index values. On the other hand, Materials and A-REIT sectors are the top 2 declining sectors, declining 0.22% and 0.08% in their index values.

Magellan Financial Group Limited (ASX: MFG) and West African Resources Limited (ASX: WAF) are the top-gaining stocks, gaining 1.543% and 1.454% in their stock prices. On the other hand, Boss Energy Ltd (ASX: BOE) and Centuria Capital Group (ASX: CNI) are the top-losing stocks and are declining by 3.440% and 2.075% in their stock prices.

Factors influencing the market-

• Australian shares are trading lower, as the Australian dollar hit its highest level since January 2 overnight as traders mull the potential for the Reserve Bank of Australia to lift interest rates in 2024.
• US markets were closed for Independence Day. European shares advanced with the FTSE 100 rising amid anticipations that Labour will easily win a majority mandate.
• Oil prices for Brent crude hit their highest level since April in the previous session, holding above $87 after data the previous day showed a decline in U.S. inventories.
• Hang Seng is up by 0.28%, and FTSE 100 is up by 0.86%.

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