Mid-Market: S&P/ASX 200 Trading Sharply Higher; All Sectors Are Trading In Green

On 04 July 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining  80.40 points or 1.04%, and is currently trading at 7,820.30 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Materials and Healthcare sectors are the top 2 gaining sectors, gaining 1.31% and 0.85% in their index values.

Magellan Financial Group Limited (ASX: MFG) and Arcadium Lithium Limited (ASX: LTM) are the top-gaining stocks, gaining 5.848% and 5.386% in their stock prices. On the other hand, West African Resources Limited (ASX: WAF) and New Hope Corporation Ltd (ASX: NHC) are the top-losing stocks and are declining by 11.321% and 3.042% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is rising today at the open on Thursday, bolstered by an extended bull market in New York, ahead of the Independence Day holiday on July 4.
• Santos Limited’s shares are gaining after Bloomberg reported Saudi Aramco and Abu Dhabi National Oil Co have been separately studying potential bids for Santos, as the Middle Eastern energy giants seek to ramp up their gas investments overseas.
• Oil prices gained about 1% in the previous session after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the U.S. Independence Day holiday.
• The Dow has closed down by 0.06%, the S&P 500 closed up by 0.51%, and the NASDAQ ended higher by 0.88%.
• Hang Seng is up by 1.18%, and FTSE 100 is up by 0.61%.

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