Mid-Market: S&P/ASX 200 Trading Lower; Tracking US Market Losses

On 03 April 2024, at AEDT 11:00 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 35.60 points or 0.45%, and is currently trading at 7,852.30 levels. Out of 11 sectors, 8 sectors are trading lower along with the decline in the S&P/ASX 200.

The Utilities and Energy sectors are the top 2 gaining sectors, gaining 0.12% and 0.11% in their index values. On the other hand, A-REIT and Consumer Discretionary sectors are the top 2 declining sectors, declining 0.80% and 0.48% in their index values.

Ramelius Resources Limited (ASX: RMS) and Boss Energy Ltd (ASX: BOE) are the top-gaining stocks, gaining 10.221% and 3.838% in their stock prices. On the other hand, Arcadium Lithium Limited (ASX: LTM) and Orora Limited (ASX: ORA) are the top-losing stocks and are declining by 4.762% and 4.526% in their stock prices.

Factors influencing the market-

• The Australian share market declined, taking direction from New York where equities declined for a second session and bond yields climbed after more robust US data.
• Westgold Limited’s shares slumped over 10% following revising its full year FY24 production guidance to 220,000 to 230,000 ounces at an AISC of $2100 to $2300. The company produced 52,100 ounces of gold with an average sale price of $3137 an ounce.
• Oil prices settled higher after a session in which Ukrainian attacks on Russian energy facilities and escalating conflict in the Middle East pushed the Brent benchmark above $89 a barrel for the first time since October.
• The Dow has closed down by 1.00%, the S&P 500 down by 0.72%, and the NASDAQ ended lower by 0.95%.
• Hang Seng is up by 2.36%, and FTSE 100 is down by 0.22%.

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