Mid-Market: S&P/ASX 200 Trading Lower; Iron Ore Prices Are Declining

On 08 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 30.40 points or 0.39%, and is currently trading at 7,791.90 levels. Out of 11 sectors, 8 sectors are trading lower along with the decline in the S&P/ASX 200.

The Information Technology and Consumer Discretionary sectors are the top 2 gaining sectors, gaining 0.37% and 0.17% in their index values. On the other hand, Materials and Energy sectors are the top 2 declining sectors, declining 0.91% and 0.72% in their index values.

Red 5 Limited (ASX: RED) and Regis Resources Limited (ASX: RRL) are the top-gaining stocks, gaining 5.333% and 3.662% in their stock prices. On the other hand, Arcadium Lithium Ltd (ASX: LTM) and Boss Energy Ltd. (ASX: BOE) are the top-losing stocks and are declining by 3.295% and 3.142% in their stock prices.

Factors influencing the market-

• Australian Shares are falling despite a strong lead from Wall Street where the tech-heavy Nasdaq and the benchmark S&P 500 claimed fresh record highs on Friday.
• Core Lithium is leading the benchmark higher with shares are trading higher by more than 12% after overshooting its production guidance and bolstered its coffers, despite an ongoing downturn in the lithium market.
• Ramelius Resources Limited’s shares are trading higher at after it has announced that it has produced just over 293,000 ounces of gold in the FY24, nearly topping its upgraded guidance of between 285,000 and 295,000 outlined earlier this year.
• The Dow has closed up by 0.17%, the S&P 500 closed up by 0.54%, and the NASDAQ ended higher by 0.90%.
• Hang Seng is down by 1.27%, and FTSE 100 is down by 0.45%.

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