S&P/ASX 200 Trading Higher By 0.07%; Energy Sector Gained 4.00%

On 19 August 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 5.10 points or 0.07%, and is currently trading at 7,117.90 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200.

The Energy and Materials sectors are the top 2 gaining sectors, gaining 4.00% and 085% in their index values. On the other hand, A-REIT and Financial sectors are the top 2 losing sectors, declining 1.63% and 0.80% in their index values.

Santos Limited (ASX: STO) and Whitehaven Coal Limited (ASX: WHC) are the top gaining stocks, gaining 5.728% and 5.194% in their stock prices. On the other hand, TPG Telecom Limited (ASX: TPG) and Inghams Group Limited (ASX: ING) are the top losing stocks and are declining 12.236% and 9.765% in their stock prices.

Factors influencing the market-

• Coal miners Whitehaven, New Hope, and Yancoal have jumped again as Newcastle thermal coal futures prices increases due to rising demand as Europe scrambles to seek alternative coal suppliers to Russia.
• Inghams Group’s share price is declining following the company has reported a 57.9% decline in statutory net profit after tax to $35.1 million for the full year. Statutory EBITDA dropped 16.6% in the prior year to $370.4 million.
• Oil prices are trading sideways today after a two-day rally on signs of improving U.S. demand but were still set for weekly losses on concerns over a Chinese slowdown and a potential Iran-led supply glut.
• Dow has closed up 0.1%, S&P 500 up by 0.2%, and NASDAQ closed higher by 0.2%.
• Hang Seng is down 0.18%, and FTSE 100 is up by 0.35%.

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