Mid-Market: S&P/ASX 200 Trading Lower; Investors Cautious Ahead of RBA’s Rate Decision

On 17 June 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 5.30 points or 0.07%, and is currently trading at 7,728.10 levels. Out of 11 sectors, 6 sectors are trading lower along with the decline in the S&P/ASX 200.

The Utilities and Telecommunication Services sectors are the top 2 gaining sectors, gaining 0.52% and 0.30% in their index values. On the other hand, Energy and Materials sectors are the top 2 declining sectors, declining 0.60% and 0.28% in their index values.

Red 5 Limited (ASX: RED) and Capricorn Metals Limited (ASX: CMM) are the top-gaining stocks, gaining 5.056% and 4.708% in their stock prices. On the other hand, Arcadium Lithium Limited (ASX: LTM) and Deep Yellow Limited (ASX: DYL) are the top-losing stocks and are declining by 4.412% and 4.296% in their stock prices.

Factors influencing the market-

• Australian shares slipped today with energy leading losses, while investors were cautious ahead of the Reserve Bank’s rate decision and concerns about France’s pending elections.
• Tabcorp Holdings Limited’s shares fell as the company appointed Australian Football League’s Gillon McLachlan as chief executive.
• Gold prices rallied on Friday, taking weekly gains to 1.7%, their first such advance in four, as signs of slowing inflation in the US raised hopes of a rate cut later this year.
• The Dow has closed down by 0.15%, the S&P 500 closed down by 0.04%, and the NASDAQ ended higher by 0.15%.
• Hang Seng is down by 0.94%, and FTSE 100 is down by 0.21%.

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