Mid-Market: S&P/ASX 200 Trading Lower By 0.72%; Weighed down by Consumer Discretionary

On 6 June 2023, at AEST 10:56 AM, the benchmark index S&P/ASX 200 is trading lower today, dropping 51.90 points or 0.72%, and is currently trading at 7,164.40 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Utilities sector is the top-gaining sector, gaining 0.18% in their index values. On the other hand, the Consumer Discretionary and A-REIT sectors were the top losing sectors, declining 1.54% and 1.05% in their index values.

The A2 Milk Company Limited (ASX: A2M) and Paladin Energy Limited (ASX: PDN) are the top-gaining stocks, gaining 6.179% and 4.477% in their stock prices. On the other hand, ASX Limited (ASX: ASX) and Imugene Limited (ASX: BRN) are the top-losing stocks and are declining by 8.432% and 4.762% in their stock prices.

Factors influencing the market-

• The dividend payout ratio policy of the Australian Stock Exchange has been revised to a range of 80% to 90% of net profit for FY24.
• Perenti, a gold miner, has adjusted its revenue forecast for FY23 to $2.9 billion, as stated in its latest update.
• A2 Milk’s shares rallied after news that the company received the go-ahead on re-registration from Chinese authorities.
• Baby Bunting, an infant goods retailer, has downgraded its projected net profit for FY23 to a range of $13.5 million to $15 million, according to its recent trading update.
• Sigma Healthcare experienced a 22.9% surge in its stock price after winning a $2 billion contract with Chemist Warehouse.
• Energy stocks, including Woodside and Santos, faced declines, with Woodside falling by 0.9% and Santos dropping by 1%.
• The Dow closed lower by 0.59%, the S&P 500 closed lower by 0.20%, and the NASDAQ ended lower by 0.09%.
• The Hang Seng index recorded an increase of 0.84%, while the FTSE 100 index saw a decrease of -0.10% today.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com