S&P/ASX 200 Trading Higher By 0.97%; Bega Cheese Gained More Than 11%

On 26 August 2022, at AEST 12:15 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 68.30 points or 0.97%, and is currently trading at 7,116.40 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200.

The Consumer Staples and Healthcare sectors are the top 2 gaining sectors, gaining 1.31% and 1.09% in their index values. On the other hand, Telecommunication Services is the only losing sector, declining 0.12% in its index value.

Bega Cheese Limited (ASX: BGA) and Viva Energy Group Limited (ASX: VEA) are the top gaining stocks, gaining 11.764% and 6.521% in their stock prices. On the other hand, Polynovo Limited (ASX: PNV) and G.U.D. Holdings Limited (ASX: GUD) are the top losing stocks and are declining 7.055% and 3.940% in their stock prices.

Factors influencing the market-

• Polynovo limited's shares dropped sharply following it has posted a net loss of $1.2 million as COVID-19 had a significant impact on elective surgery activity over the 12 months to June 30.
• Bega Cheese Limited's share price is rising after the company has reported a 45.2% increase in its revenue while a 69% decline in the profit after tax to $24.2 million as it battled COVID-19, rising costs, and supply chain disruptions.
• Oil prices recovered today and were set to end the week higher as the prospect of production cuts by the OPEC+ offset concerns over an Iran-led supply glut.
• Dow has closed up 0.3%, S&P 500 up by 0.6%, and NASDAQ closed higher by 1.1%.
• Hang Seng is up by 0.97%, and FTSE 100 is up by 0.11%.

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