ASX/200 Closed Higher by 0.02%, Lifted by Consumer Discretionary

By the end of the trading session on 09 December 2024, the benchmark index S&P/ASX 200 closed higher by 0.02% and settled at 8,423.00. Out of 11 sectors, 08 sectors ended higher along with the S&P/ASX 200.

Consumer Discretionary and Telecommunications Services are the top-gaining sectors, gaining 0.64% and 0.35% in their index value. On the other hand, Energy and Materials are the top-losing sectors, losing 1.05% and 0.41% in their index value.

Audinate Group Limited (ASX: AD8) and Goodman Group (ASX: GMG) are the top-gaining stocks, gaining 3.846% and 3.363% in their stock prices. On the other hand, Life360 Inc. (ASX: 360) and Alcoa Corporation (ASX: AAI) went down by 8.318% and 6.265% respectively are the top-losing stocks.

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Top gainer for the day:

• Consumer Discretionary (Up 0.64%)
• Telecommunications Services (Up 0.35%)

Top loser for the day:

• Energy (Down 1.21%)
• Materials (Down 1.05%)

Other Factors influencing the market:

• ANZ has announced the appointment of its new chief executive, Nuno Matos, who previously led HSBC’s wealth and personal banking division. Matos will replace Shayne Elliott on July 3, following Elliott’s nine-year tenure. ANZ’s shares fell 3.6% to $30.03.
• Life360's shares declined by 8.3% to $24.03 amid concerns over its weighting in the Russell indexes, following a recalibration announcement by the index provider. The company had previously confirmed in September its inclusion in the Russell 2000 and Russell 3000 indexes, which usually drives investments from passive funds.
• GQG Partners saw a 6.2% increase in its share price, reaching $2.21, after reporting higher funds under management for November and announcing the termination of its planned buyback due to uncertainties surrounding US tax regulations on market buybacks.
• Superloop shares rose 1.8% to $2.30 after the company revealed its acquisition of Uecomm from Optus for $17.5 million. This deal expands Superloop's network by adding 2,000 kilometers of fibre across Sydney, Melbourne, Brisbane, and the Gold Coast.
• Gold prices edged higher as China’s central bank resumed bullion purchases in November, breaking a six-month hiatus and providing vital support for the precious metal.
• Oil prices continued to decline for the second consecutive week, following Saudi Arabia's steeper-than-expected price cuts for Asian crude, while markets monitored potential impacts from the Syrian regime's downfall.
• The Dow Jones Industrial Average dipped by 0.28%, reflecting slight investor caution. Meanwhile, the S&P 500 edged higher by 0.25%, and the NASDAQ led gains with a robust 0.81% increase. 
• In Asia, the Hang Seng Index fell by 0.68%, while in Europe, the FTSE 100 slipped by 0.49%, marking a mixed day across global markets.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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