Mid-Market: S&P/ASX 200 Trading Lower By 0.52%; Ahead of RBA’s Cash Rate Decision

On 05 September 2023, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 37.80 points or 0.52%, and is currently trading at 7,281.80 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Consumer Staples and Utilities sectors are the top 2 gaining sectors, gaining 0.08% and 0.08% in their index values. On the other hand, the A-REIT and Healthcare sectors are the top 2 losing sectors, declining 0.55% and 0.21% in their index values.

Megaport Limited (ASX: MP1) and Boral Limited (ASX: BLD) are the top-gaining stocks, gaining 1.428% and 0.953% in their stock prices. On the other hand, Sandfire Resources Limited (ASX: SFR) and Viva Energy Group Limited (ASX: VEA) are the top-losing stocks and are declining by 3.847% and 3.449% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining today amid a lack of direction from overnight US markets, closed for Labor Day, and investors are also cautious ahead of their latest cash rate decision.
• Qantas Limited’s share price is declining today following outgoing CEO Alan Joyce brought forward his departure by two months in a pre-market announcement. He will step down as of tomorrow, and incoming CEO Vanessa Hudson will step into the group CEO and managing director roles.
• Tietto Minerals plunged 20% after the gold miner cut its 2HFY23 gold production guidance to between 75,000 and 85,000 ounces from its newly opened West African mine.
• Hang Seng is up by 2.51%, and FTSE 100 is down by 0.16%.

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