Mid-Market: S&P/ASX 200 Trading Lower By 0.03%; Weighed down by Information technology

On 8 June 2023, at AEST 10:56 AM, the benchmark index S&P/ASX 200 is trading lower today, dropping 1.50 points or 0.03%, and is currently trading at 7,116.10 levels. Out of 11 sectors, 7 sectors are trading lower along with the S&P/ASX 200.

The Energy and Materials sectors are the top-gaining sectors, gaining 0.16% and 0.41% in their index values. On the other hand, the Information Technology and A-REIT sectors were the top losing sectors, declining 1.45% and 1.36% in their index values.

Whitehaven Coal Limited (ASX: WHC) and Computershare Limited (ASX: CPU) are the top-gaining stocks, gaining 3.908% and 3.839% in their stock prices. On the other hand, Silver Lake Resources (ASX: SLR) and Premier Investments Limited (ASX: PMV) are the top-losing stocks and are declining by 3.991% and 3.299% in their stock prices.

Factors influencing the market-

• Despite expecting revenue growth of up to 26% in FY23, Enero shares dropped by 3.5%.
• Air New Zealand has revised its earnings guidance for FY23 to $NZ580 million ($526.4 million) in its latest trading update.
• AMP has announced the sale of its self-managed superannuation fund (SMSF) administration and software business, SuperConcepts, to Pemba Capital Partners.
• The U.S. Energy Information Administration (EIA) predicts that oil prices will not exceed $80 per barrel in the second half of this year, despite Saudi Arabia's recent production cut.
• The Dow closed with a 0.59% decline, the S&P 500 closed with a 0.20% decline, and the NASDAQ ended with a 0.09% decline.
• The Hang Seng index has risen by 0.80%, while the FTSE 100 index has decreased by -0.05% today.

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