Mid-Market: S&P/ASX 200 Trading Lower; Dragged down By A-REIT

On 27 February 2024, at AEDT 11:15 AM, the benchmark index S&P/ASX 200 is trading lower today, gaining 32.80 points or 0.43%, and is currently trading at 7,620.00 levels. Out of 11 sectors, 08 sectors are trading higher along with the gain in the S&P/ASX 200.

Consumer Staples and Energy sectors are the top 2 gaining sectors, gaining 1.85% and 0.75% in their index values. On the other hand, A-REIT and Materials sectors are the top 2 declining sectors, declining 1.27% and 1.16% in their index values.

Reece Limited (ASX: REC) and Helia Group Limited (ASX: HLI) are the top-gaining stocks, gaining 7.598% and 6.511% in their stock prices. On the other hand, Johns Lyng Group Limited (ASX: JLG) and Alumina Limited (ASX: AWC) are the top-losing stocks and are declining by 16.250% and 8.257% in their stock prices.

Factors influencing the market-

• Coles shares surged by 5.7%, despite a 5.1% decline in earnings before interest and tax (EBIT) to $1.06 million for the first half.
• Woodside Energy saw a 0.7% increase in its stock price, despite a 37% decrease in full-year core profit due to write-downs on US and Western Australian oil and gas ventures.
• Property company Johns Lyng Group experienced the largest decline in the index, dropping by 13% after releasing its results.
• Oil prices rose on Monday, attributed to constrained European diesel demand caused by Russian sanctions and shipping disruptions, leading to increased market tension over US refinery output.
• The Dow closed down by 0.16%, the S&P 500 by 0.38%, and the NASDAQ by 0.13%.
• The Hang Seng decreased by -0.54%, while the FTSE 100 was down by -0.29% for the day.

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