S&P/ASX 200 Bounces Back; Lifted By Industrials and Utilities Sectors

On 08 June 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 50.30 points or 0.71%, and is currently trading at 7,146.00 levels. 10 out of 11 sectors are trading higher along with the S&P/ASX 200.

The Industrials and Utilities sectors are the top 2 gaining sectors, gaining 2.73% and 2.73% in their index values. On the other hand, the Financials sector is the only losing sector, declining 1.54% in its index value.

Atlas Arteria (ASX: ALX) and Paladin Energy Limited (ASX: PDN) are the top gaining stocks, gaining 15.563% and 14.184% in their stock prices. On the other hand, Westpac Banking Corporation (ASX: WBC) and Bendigo And Adelaide Bank Limited (ASX: BEN) are the top losing stocks and are declining 4.315% and 3.737% in their stock prices.

Factors influencing the market-

• Major banks have extended their losses after the Reserve Bank of Australia raised the interest rate more than expected, causing the Financial sector to decline.
• Atlas Arteria’s share price is rising 15.563% after Street Talk reports confirmed that IFM Investors snapped up a 15% stake in the toll road group.
• Oil prices are higher ahead of data on U.S. oil inventories, with crude futures supported by tight supplies and expected demand recovery in China as it relaxed strict COVID lockdowns.
• Dow has closed up by 0.8%, S&P 500 up by 1.0%, and NASDAQ closed higher by 0.9%.

Hang Seng is up by 1.36%, and FTSE 100 is down by 0.12%.

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