Mid-Market: S&P/ASX 200 Trading Lower; Oil Prices Surged Overnight

On 04 October 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 82.40 points or 1.00%, and is currently trading at 8,122.80 levels. Out of 11, 10 sectors are trading lower along with the decline in the S&P/ASX 200.

The Energy sector is the only gaining sector, gaining 0.11% in its index value. On the other hand, Materials and Utilities sectors are the top 2 declining sectors, declining 1.23% and 0.77% in their index values.

Karoon Energy Limited (ASX: KAR) and Beach Energy Limited (ASX: BPT) are the top-gaining stocks, gaining 3.726% and 3.485% in their stock prices. On the other hand, APA Group (ASX: APA) and Champion Iron Limited (ASX: CIA) are the top-losing stocks and are declining by 3.613% and 3.296% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining today, as losses across the index offset gains in oil majors as concerns spike that Israel may retaliate against Iran by targeting the latter nation’s oil assets.
• Regal Partners shares are rising after it has topped $17 billion in funds under management as its takeover talks with fellow wealth giant Platinum Asset Management advance, with the two groups entering due diligence this week.
• Oil prices surged overnight as concerns mounted that a widening regional conflict in the Middle East could disrupt global crude flows.
• The Dow has closed down by 0.44%, the S&P 500 closed down by 0.17%, and the NASDAQ ended lower by 0.05%.
• Hang Seng is down by 1.47%, and FTSE 100 is down by 0.10%.

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