S&P/ASX 200 Trading Lower By 0.10%; 9 Out Of 11 Sectors Are In Red Zone

On 08 August 2022, at AEST 12:15 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 7.30 points or 0.10%, and is currently trading at 7,008.30 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200.

The Materials and Energy sectors are the top 2 gaining sectors, gaining 1.41% and 1.12% in their index values. On the other hand, A-REIT and Consumer Discretionary sectors are the top 2 losing sectors, declining 1.80% and 1.63% in their index values.

Oz Minerals Limited (ASX: OZL) and Appen Limited (ASX: APX) and are the top gaining stocks, gaining 34.672% and 9.318% in their stock prices. On the other hand, Pinnacle Investment Management Group Limited (ASX: PNI) and Suncorp Group Limited (ASX: SUN) are the top losing stocks and are declining 5.946% and 5.923% in their stock prices.

Factors influencing the market-

• Suncorp Group Limited’s share price is declining after the company has reported a net profit after tax of $681 million for the year ended June 30, down 34.1% from the prior year.
• OZ Minerals Limited’s share price jumped more than 34% following rejecting BHP’s takeover bid.
• Oil prices sank in early trade today, extending losses from last week as signs of weak Chinese consumption raised concerns over slowing demand for crude.
• Dow has closed up 0.2%, S&P 500 down by 0.2%, and NASDAQ closed lower by 0.5%.
• Hang Seng is down by 0.79%, and FTSE 100 is down by 0.11%.

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