Mid-Market: S&P/ASX 200 Trading Lower By 0.40%; Energy Stocks Are Gaining

On 04 January 2023, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 30.10 points or 0.40%, and is currently trading at 7,493.10 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Energy sector is the only gaining sector, gaining 1.17% in its index value. On the other hand, Financial and Information Technology sectors are the top 2 gaining sectors, gaining 0.84% and 0.81% in their index values.

Whitehaven Coal Limited (ASX: WHC) and Karoon Energy Ltd (ASX: KAR) are the top-gaining stocks, gaining 2.405% and 2.091% in their stock prices. On the other hand, Arcadium Lithium PLC (ASX: LTM) and Block Inc. (ASX: SQ2) are the top-losing stocks and are declining by 7.912% and 3.718% in their stock prices.

Factors influencing the market-

• Australian share market is trading lower today, tracking further losses on Wall Street after Federal Reserve meeting minutes indicated interest rates could stay restrictive for longer.
• Westgold Resources Kimited’s shares are declining after the company says it’s on track to deliver its production guidance of 245,000 to 265,000 ounces for FY24. The WA-based miner produced 59,238 ounces of gold in the second quarter with an average sale price of $3041 per ounce.
• Oil prices mounted as supply disturbances in Libya, increased tensions in the Middle East and an OPEC statement stressing its commitment to stabilizing prices ushered bulls back into the market.
• The Dow has closed down by 0.76%, the S&P 500 down by 0.80%, and the NASDAQ ended lower by 1.18%.
• Hang Seng is down by 0.85%, and FTSE 100 is down by 0.51%

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