S&P/ASX 200 Trading Higher; Lifted By A-REIT and Industrials Sectors

On 23 June 2022, at AEST 12:10 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 26.70 points or 0.41%, and is currently trading at 6,535.20 levels. Out of 11 sectors, 9 sectors are trading higher along with the S&P/ASX 200.

The A-REIT and Industrials sectors are the top 2 gaining sectors, gaining 2.32% and 1.78% in their index values. On the other hand, the Energy and Materials sectors are the top 2 losing sectors, declining 2.03% and 1.81% in their index values.

James Hardie Industries PLC (ASX: JHX) and IPH Limited (ASX: IPH) are the top gaining stocks, gaining 4.643% and 4.336% in their stock prices. On the other hand, St Barbara Limited (ASX: SBM) and Ramelius Resources Limited (ASX: RMS) are the top losing stocks and are declining 12.703% and 8.945% in their stock prices.

Factors influencing the market-

• Ramelius Resources' share price declining after the company announced that gold production for the 2022 financial year would fall marginally short of its current guidance range of 260,000 to 265,000 ounces.
• The materials sector is sliding, with Rio Tinto down 2.57 % to $101.81, BHP declining 2.48% to $40.01, and Fortescue also down 3.17% to $17.06.
• Oil prices are extending losses from the previous day as investors worried that aggressive U.S. interest rate hikes could trigger a recession and dent fuel demand.
• Pilbara Minerals' share price is rising following announcing that it has achieved a new price for a spodumene concentrate cargo after accepting a pre-auction bid before its sixth scheduled digital auction on the Battery Material Exchange.
• Dow has closed down by 0.2%, S&P 500 down by 0.1%, and NASDAQ closed lower by 0.2%.
• Hang Seng is up by 0.95%, and FTSE 100 is down by 0.88%.

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