S&P/ASX 200 Trading Higher; Led by Industrials and Telecommunication Sector

On 01 June 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 20.70 points or 0.29%, and is currently trading at 7,231.90 levels. 7 out of 11 sectors are trading higher along with the S&P/ASX 200.

The Industrials and Telecommunication Services sectors are the top 2 gaining sectors, gaining 1.16% and 1.10% in their index values. On the other hand, The Utilities and Materials sectors are the top losers, with 4.06% and 0.56% drop in their index values respectively.

Auckland International Airport Limited (ASX: AIA) and Nufarm Limited (ASX: NUF) are the top gaining stocks, gaining 2.976% and 2.268% in their stock prices. On the other hand, Liontown resources Limited (ASX: LTR) and Pilbara Minerals Limited (ASX: PLS) are the top losing stocks and are declining 14.135% and 13.390% in their stock prices.

Factors influencing the market-

• Origin Energy’s share price is falling after the company announced to withdraw its fiscal 2023 guidance.
• Oil prices are rising after European Union leaders agreed to a partial ban on Russian oil, and China ended its COVID-19 lockdown in Shanghai, helping the energy sector rise.
• Dow has closed down by 0.7%, S&P 500 dropped by 0.6%, and NASDAQ closed lower by 0.4%.
• Hang Seng is down by 0.20%, and FTSE 100 is up by 0.10%.

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