Mid-Market: S&P/ASX 200 Trading Lower By 0.22%; Dragged Down By Healthcare Sector

On 12 February 2024, at AEDT 11:50 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 16.60 points or 0.22%, and is currently trading at 7,628.50 levels. Out of 11 sectors, 8 sectors are trading higher despite the decline in the S&P/ASX 200.

The Utilities and Information Technology sectors are the top 2 gaining sectors, gaining 0.37% and 0.37% in their index values. On the other hand, Healthcare and Materials sectors were the top 2 declining sectors, declining 3.79% and 0.29% in their index values.

JB Hi-Fi Limited (ASX: JBH) and Boss Energy Ltd (ASX: BOE) are the top-gaining stocks, gaining 4.880% and 3.059% in their stock prices. On the other hand, CSL Limited (ASX: CSL) and Liontown Resources Limited (ASX: LTR) are the top-losing stocks and are declining by 5.261% and 4.036% in their stock prices.

Factors influencing the market-

• Appen Limited’s shares bounced after the company announced that it will slash a further US$13.5 million ($20.7 million) of costs out of its business, including closing its Toronto and Bellevue offices in North America after losing a key contract with Google.
• Synlait Milk’s shares dropped sharply after bracing investors for net profits to slip to between $17 million to $21 million.
• CSL Limited’s shares are declining today after it has suffered a setback in the phase-three trial of its drug candidate for treating dangerous second heart attacks, which account for a large share of cardiovascular deaths, and abandoned plans to seek regulatory approval for it near-term.
• The Dow has closed down by 0.14%, the S&P 500 up by 0.57%, and the NASDAQ ended higher by 1.25%.
• Hang Seng is down by 0.83%, and FTSE 100 is down by 0.30%.

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