Mid-Market: S&P/ASX 200 Trading Lower By 0.29%; Dragged Down By IT And A-REIT Sectors

On 08 December 2023, at AEDT 11:45 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 20.50 points or 0.29%, and is currently trading at 7,152.80 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 0.50% and 0.41% in their index values. On the other hand, the Information Technology and A-REIT sectors are the top 2 losing sectors, declining 0.92% and 0.86% in their index values.

Santos Limited (ASX: STO) and Sayona Mining Limited (ASX: SYA) are the top-gaining stocks, gaining 6.588% and 4.629% in their stock prices. On the other hand, Telix Pharmaceuticals Limited (ASX: TLX) and Polynovo Limited (ASX: PNV) are the top-losing stocks and are declining by 4.678% and 4.355% in their stock prices.

Factors influencing the market-

• Woodside Energy Ltd’s shares slipped, while Santos Limited’s shares jumped after the two companies confirmed that they were in talks on a potential $80 billion merger of their businesses.
• Genex Power rallied after locking in a long-term power sales deal with Queensland state generator Stanwell Corporation that covers half of a new wind farm in the state’s north.
• Ramsay Health Care fell following the Australian Foreign Investment Review’s approval to sell its 50-50 Asian joint venture to Columbia Asia Healthcare.
• Oil prices fell in the previous session to six-month lows, as investors worried about sluggish energy demand in the United States and China while output from the US remains near record highs.
• The Dow has closed up by 0.17%, the S&P 500 up by 0.80%, and the NASDAQ ended higher by 1.37%.
• Hang Seng is down by 0.71%, and FTSE 100 is down by 0.02%

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