Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By Tech And Financial Stocks

On 14 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 21.60 points or 0.28%, and is currently trading at 7,728.10 levels. Out of 11 sectors, 5 sectors are trading lower along with the decline in the S&P/ASX 200.

The Utilities and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.40% and 0.30% in their index values. On the other hand, Information Technology and Financial sectors are the top 2 declining sectors, declining 0.53% and 0.36% in their index values.

Life360 Inc. (ASX: 360) and Deep Yellow Limited (ASX: DYL) are the top-gaining stocks, gaining 5.038% and 3.819% in their stock prices. On the other hand, Deterra Royalties Limited (ASX: DRR) and ARB Corporation Limited (ASX: ARB) are the top-losing stocks and are declining by 6.951% and 4.343% in their stock prices.

Factors influencing the market-

• Australian shares are declining today after Wall Street raced to record highs as investors lifted bets on companies considered beneficiaries from the rise of artificial intelligence.
• Telix Pharmaceuticals Limited’s shares are sharply lower after it said it will cancel its planned US initial public offer at the last minute.
• Deterra Royalties Limited dropping after it made an all-cash offer for AIM listed British lithium mining group Trident Royalties for 49% per share worth £144 million ($277 million) or a foreign exchange adjusted $276 million.
• Oil prices settled lower in the previous session, as concerns over supply outstripping demand persist a day after a surprise build in U.S. crude inventories, but losses were kept in check by signs of cooling U.S. inflation.
• The Dow has closed down by 0.17%, the S&P 500 closed up by 0.23%, and the NASDAQ ended higher by 0.33%.
• Hang Seng is up by 0.97%, and FTSE 100 is down by 0.63%.

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