Mid-Market: S&P/ASX 200 Trading Lower By 1.07%; LTR Shares Are Declining By More Than 30%

On 20 October 2023, at AEST 12:00 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 74.60 points or 1.07%, and is currently trading at 6,907.10 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Energy sector is the top gaining sector, gaining 0.55% in its index value. On the other hand, the Materials and A-REIT sectors are the top 2 losing sectors, declining 1.83% and 1.77% in their index values.

Weebit Nano Limited (ASX: WBT) and Credit Corp Group (ASX: CCP) are the top-gaining stocks, gaining 11.445% and 6.063% in their stock prices. On the other hand, Liontown Resources Limited (ASX: LTR) and Telix Pharmaceuticals Limited (ASX: TLX) are the top-losing stocks and are declining by 31.810% and 6.740% in their stock prices.

Factors influencing the market-

• Liontown Resources Limited’s shares crashed after it raised AU$365 million from institutional investors at AU$1.80 per share to fund the development of its Kathleen Valley Project.
• Insignia Financial Group’s shares are also declining after the company’s chief executive, Renato Mota going to leave the business in February.
• Oil prices rose sharply in Asian trade, extending a strong run of gains after the U.S. government outlined plans to begin refiling the country’s strategic oil reserve. At the same time, concerns over supply disruptions in the Middle East also lent support.
• The Dow has closed down by 0.75%, the S&P 500 down by 0.85%, and the NASDAQ ended lower by 0.96%.
• Hang Seng is down by 2.46%, and FTSE 100 is down by 1.17%.

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