S&P/ASX 200 Trading Higher; Buoyed By Materials and Consumer Staples Sectors

Jul 07, 2022

On 07 July 2022, at AEST 12:11 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 11.40 points or 0.17%, and is currently trading at 6,605.90 levels. Out of 11 sectors, 5 sectors are trading higher along with the S&P/ASX 200.

The Materials and Consumer Staples sectors are the top 2 gaining sectors, gaining 0.80% and 0.56% in their index values. On the other hand, the Information Technology and Industrials sectors are the top 2 losing sectors, declining 1.38% and 0.88% in their index values.

Chalice Mining Limited (ASX: CHN) and Link Administration Holdings Limited (ASX: LNK) are the top gaining stocks, gaining 8.000% and 6.266% in their stock prices. On the other hand, EML Payments Limited (ASX: EML) and Zip Co Limited (ASX: ZIP) are the top losing stocks and are declining 9.860% and 6.957% in their stock prices.

Factors influencing the market-

  • Chalice Mining jumped 9.60% to $4.11 after announcing a new nickel-copper-PGE sulphide zone has been intersected in initial drilling at the Dampier Target.
  • Resources stocks rebounded from Wednesday’s sell-off; Rio Tinto climbed 2.59% to $95.79, Fortescue climbed 2.6% to $16.90, and IGO added 2.9% to $9.70.
  • Oil prices slipped in early trade on Thursday after hitting a nearly three-month low during the previous session, as fears of a potential global recession spurred concerns about oil demand.
  • Dow has closed up by 0.2%, S&P 500 up by 0.4%, and NASDAQ closed higher by 0.4%.
  • Hang Seng is down by 1.19%, and FTSE 100 is up by 1.17%.

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