Mid-Market: S&P/ASX 200 Trading Lower By 0.07%; Dragged Down By A-REIT And Consumer Staples Sectors

On 18 December 2023, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 5.20 points or 0.07%, and is currently trading at 7,437.50 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200.

The Information Technology and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.32% and 0.31% in their index values. On the other hand, the A-REIT and Consumer Staples sectors are the top 2 losing sectors, declining 1.00% and 0.47% in their index values.

Neuren Pharmaceuticals Limited (ASX: NEU) and Tabcorp Holdings Limited (ASX: TAH) are the top-gaining stocks, gaining 25.379% and 21.768% in their stock prices. On the other hand, Genesis Minerals Limited (ASX: GMD) and Silver Lake Resources Limited (ASX: SLR) are the top-losing stocks and are declining by 3.900% and 3.390% in their stock prices.

Factors influencing the market-

• The Australian share market is declining today, as central bank officials tempered investor enthusiasm for interest rate cuts next year.
• Adbri Ltd’s shares are gaining after CRH and major shareholder Barro Group agreed to buy the building materials company for AU$3.20 per share. The deal values Adbri at AU$2.1 billion.
• Link Group soared following it announced that Mitsubishi UFJ is set to acquire the company for $2.10 cash a share, plus pay a dividend of 16¢, which will be franked at 25%.
• Stockland Limited’s shares dropped after agreeing to buy 12 Master planned Communities from Lendlease for around $1.06 billion via the establishment of the Stockland Residential Communities Partnership (SRCP) with Supalai.
• The Dow has closed up by 0.15%, the S&P 500 down by 0.01%, and the NASDAQ ended higher by 0.35%.
• Hang Seng is up by 2.38%, and FTSE 100 is down by 0.95%

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