ASX/200 Closed Lower by 0.46%, Dragged down by Materials

By the end of the trading session on 30 July 2024, the benchmark index S&P/ASX 200 ended lower by 0.46% and settled at 7953.20. Out of 11 sectors, 9 sectors closed lower along with the ASX 200.

Consumer Discretionary and Financial are the top-gaining sectors, gaining 0.22% and 0.19% in their index value. Materials and Information Technology were the top-losing sectors, losing 1.93% and 0.90% respectively in their index values.

Credit Corp Group Limited (ASX: CCP) and Idp Education Limited (ASX: IEL) are the top-gaining stocks, gaining 13.947 % and 6.0% in their stock prices. On the other hand, Fortescue Ltd (ASX: FMG) and Arcadium Lithium Plc (ASX: LTM) went down by 7.189% and 4.738% respectively are the top-losing stocks.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Consumer Discretionary (Up 0.22%)
• Financial (Up 0.19%)

Top loser for the day:

• Materials (Down 1.93%)
• Information Technology (Down 0.90%)

Other Factors influencing the market:

• On news that the mining behemoth and Lundin Mining would jointly acquire Toronto-listed copper miner Filo Corp., the index heavyweight BHP fell 1.3% to AU$41.54. It is anticipated that BHP will pay $US2.1 billion (AU$3.2 billion) in cash in total for the purchase.
• Following a large block trade in the shares, Fortescue Metals fell 10.2% to AU$18.28. After Monday's closing bell, JPMorgan was reportedly searching for purchasers for AU$1.9 billion of discounted stock on behalf of an unidentified institutional client, according to the Australian Financial Review's Street Talk.
• Rio Tinto saw a 1% decrease to AU$114.66 ahead of its Wednesday morning earnings.
• When Brent crude fell below $US80 a barrel, energy equities also saw a decline. The Biden administration soon declared that it had acquired 4.65 million barrels of oil for the country's emergency stockpile. Woodside Energy experienced a 1.9% decrease to AU$26.87, while Viva saw a 1.9% loss to AU$3.18).
• Following the announcement that Chief Executive Craig McNally would be retiring at the end of June 2025, Ramsay Health Care saw a 4.3% decline to AU$44.93. In October of this year, the operator of the private hospital named Natalie Davis, a former managing director of Woolworths Supermarkets, as the new CEO.
• Shares of Regional Express are currently not trading in anticipation of a statement. On Monday, the corporation requested a halt to the trading of its shares.
• In addition, Regional Express has halted ticket sales for the next two weeks on its aircraft, putting the airline known as Rex in jeopardy. According to media sources, EY is reportedly collaborating with the troubled regional carrier and is expected to be assigned to support the restructuring.
• Brent crude fell below $US80 a barrel; the Biden administration then purchased 4.65 million barrels for the emergency reserve.
• The Dow closed down by 0.12%, the S&P 500 increased by 0.08%, and the NASDAQ rose by 0.07%.
• The Hang Seng index is up 1.28%, while the FTSE 100 is up 0.08% today.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com