S&P/ASX 200 Trading Higher; IT Sector Is the Top Gaining Sector

On 16 May 2022, at AEST 11:55 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 44.50 points or 0.63%, and is currently trading at 7119.60 levels. 9 out of 11 sectors are trading in the green zone along with the S&P/ASX 200.

 The Information Technology and Industrials sectors are the top 2 gaining sectors and gaining 3.09% and 2.73% in their index values. On the other hand, the Healthcare and Utilities sectors are the top 2 losing sector, declining 0.46% and 0.211% in their index values.

Brambles Limited (ASX: BXB) and Domino’s Pizza Enterprises Limited (ASX: DMP) are the top gaining stocks, gaining 10.354% and 7.141% in their stock prices. On the other hand, Imugene Limited (ASX: IMU) and Unibail-Rodamco-Westfield (ASX: URW) are the top losing stocks and are declining 2.858% and 2.060% in their stock prices.

Factors influencing the market-

• Brambles is up more than 11% after the company responded to the media speculation and confirmed that it had a preliminary engagement with Capital Partners regarding an unsolicited proposal to acquire all of the shares in Brambles.
• The energy sector is up 1.08% as benchmark oil futures top $US110 a barrel after Germany plans to stop Russian oil imports by the year-end and optimism over easing lockdown restrictions In Shanghai, China.
• Dow has closed up by 1.5%, S&P 500 up by 2.4%, and NASDAQ closed higher by 3.8%.
• Hang Seng is up by 0.8%, and FTSE 100 is up by 2.55%.

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