Mid-Market: S&P/ASX 200 Trading Lower; Dragged Down By WOW And COL

On 30 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 26.80 points or 0.32%, and is currently trading at 8,222.40 levels. Out of 11, 8 sectors are trading lower along with the decline in the S&P/ASX 200.

The Materials and Information Technology sectors are the top 2 gaining sectors, gaining 0.99% and 0.54% in their index values. On the other hand, Consumer Staples and Healthcare sectors are the top 2 declining sectors, declining 2.86% and 0.53% in their index values.

IGO Limited (ASX: IGO) and Pilbara Minerals Limited (ASX: PLS) are the top-gaining stocks, gaining 5.277% and 4.386% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and Liontown Resources Limited (ASX: LTR) are the top-losing stocks and are declining by 13.208% and 5.618% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is declining today, dragged lower by Coles and Woolworths after the latter retailer warned earnings from the 1HFY25 are expected to undershoot last year’s same half.
• Pilbara Minerals Limited’s shares are gaining despite the company has slashed its FY25 guidance and placed its West Australian Ngungaju plant on care and maintenance as lithium prices continue to eat into the miner’s revenue.
• Oil prices closed slightly lower in the previous session, adding to a more than 6% drop in the previous session, on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in Lebanon.
• The Dow has closed down by 0.36%, the S&P 500 closed up by 0.16%, and the NASDAQ ended higher by 0.81%.
• Hang Seng is up by 0.49%, and FTSE 100 is up by 0.80%.

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