Mid-Market: S&P/ASX 200 Trading Lower By 0.21%; Dragged Down By Materials And Utilities Stocks

On 10 January 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 16.10 points or 0.21%, and is currently trading at 7,504.40 levels. Out of 11 sectors, 6 sectors are trading higher along with the S&P/ASX 200.

The Consumer Discretionary and Healthcare sectors are the top 2 gaining sectors, gaining 1.01% and 0.63% in their index values. On the other hand, Materials and Utilities sectors are the top 2 declining sectors, declining 1.65% and 0.56% in their index values.

Paladin Energy Ltd (ASX: PDN) and Alumina Limited (ASX: AWC) are the top-gaining stocks, gaining 8.254% and 8.163% in their stock prices. On the other hand, Arcadium Lithium Ltd (ASX: LTM) and Mineral Resources Limited (ASX: MIN) are the top-losing stocks and are declining by 8.441% and 5.030% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is retracing some of yesterday’s gains, after a mixed overnight session on Wall Street and ahead of key inflation data later today.
• Alumina Limited’s shares are trading higher after the company revealed plans yesterday to halt alumina production this year at its Western Australia Kwinana plant.
• Shares in battery technology play Neometals Limited have jumped today, after the company revealed a $30 million order from luxury car manufacturer Mercedes-Benz.
• Oil prices climbed around 2% on Tuesday as the Middle East crisis and a Libyan supply outage pared the previous day's heavy losses.
• The Dow has closed down by 0.42%, the S&P 500 down by 0.15%, and the NASDAQ ended higher by 0.09%.
• Hang Seng is down by 0.21%, and FTSE 100 is down by 0.13%

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