ASX/200 Closed Higher by 1.19%, Lifted by Materials Sector

By the end of the trading session on 04 July 2024, the benchmark index S&P/ASX 200 ended Higher by 1.19% and settled at 7,831.80. Out of 11 sectors, 2 sectors closed lower along with the ASX 200.

Materials and A-REIT are the top-gaining sectors, gaining 2.32% and 1.57% in their index value. Utilities and Information Technology were the top-losing sectors, losing 1.09% and 0.11% respectively in their index values.

Bellevue Gold Limited (ASX: BGL) and Magellan Financial Group Limited (ASX: MFG) are the top-gaining stocks, gaining 6.233% and 5.964% in their stock prices. On the other hand, West African Resources Limited (ASX: WAF) and Pro Medicus Limited (ASX: PME) went down by 13.208% and 5.155% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 2.32%)
• A-REIT (Up 1.57%)

Top loser for the day:

• Utilities (Down 1.09%)
•  Information Technology (Down 0.11%)              

Other Factors influencing the market:

• Ahead of the July 4 Independence Day holiday, Australian equities saw a 1% increase on Thursday afternoon, supported by a prolonged bull market in New York.
• After Bloomberg revealed that Saudi Aramco and Abu Dhabi National Oil Co. had been independently examining possible bids for Santos, the Middle Eastern energy behemoths attempted to augment their gas investments abroad. This led to a 4% surge in Santos shares to AU$8.
• When fund manager Magellan revealed AU$19 million in performance fees and flat inflows for June, its shares surged 5.8%. The price of shares increased 7% to AU$9.15.
• The price of gold continued to rise this week, reaching $US2357 per ounce. Gold miners Newmont and Evolution Mining increased the value of their shares by more than 3% apiece.
• After the ACCC hinted that it could reject a plan for Lendlease to sell a small business unit to Stockland, the company's shares remained unchanged at AU$5.68.
• Oil prices gained about 1% in the previous session after a larger-than-expected decline in U.S. crude stocks, but gains were capped by concerns about rising global inventories in thin trading ahead of the U.S. Independence Day holiday.
• The Dow has closed down by 0.06%, the S&P 500 closed up by 0.51%, and the NASDAQ ended higher by 0.88%.
• Hang Seng is up by 1.18%, and FTSE 100 is up by 0.61%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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