Mid-Market: S&P/ASX 200 Trading Higher; All 11 Sectors Are Trading In Green

On 07 May 2024, at AEST 11:00 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 48.80 points or 0.64%, and is currently trading at 7,731.20 levels. All 11 sectors are trading higher along with the gain in the S&P/ASX 200. The Utilities and Materials sectors are the top 2 gaining sectors, gaining 2.11% and 1.73% in their index values.

HMC Capital Limited (ASX: HMC) and AGL Energy Limited (ASX: AGL) are the top-gaining stocks, gaining 7.275% and 5.257% in their stock prices. On the other hand, Sims Limited (ASX: SGM) and Bapcor Limited (ASX: BAP) are the top-losing stocks and are declining by 8.722% and 5.388% in their stock prices.

Factors influencing the market-

• The Australian share market is gaining today following an extended rally in New York on anticipations that the Federal Reserve may have more room to lower interest rates as the year progresses.
• HMC Capital Limited’s shares are rallying more than 7% after the alternative asset manager said in a Macquarie conference presentation that its operating earnings per share for FY24 was tracking 21% higher at 40¢.
• ANZ Group Holding Limited’s shares dropped after reporting a 7% decline in cash profit at $3.55 billion in its first half results. It also announced a $2 billion share buyback and declared its proposed interim dividend at 83¢ per share, partially franked at 65%.
• Oil extended a modest advance, supported by tensions in the Middle East as Israel rejected a ceasefire proposal for the Gaza Strip, and a risk-on mood in wider markets.
• The Dow has closed up by 0.46%, the S&P 500 up by 1.03%, and the NASDAQ ended higher by 1.19%.
• Hang Seng is up by 0.55%, and FTSE 100 is up by 0.51%.

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