ASX/200 Closed Higher by 1.23%, Lifted by Financial

By the end of the trading session on 06 February 2025, the benchmark index S&P/ASX 200 closed higher by 1.23% and settled at 8,520.70. Out of 11 sectors, 10 ended higher along with the S&P/ASX 200.

Financial and Consumer Discretionary are the top-gaining sectors, gaining 2.00% and 1.88% % in their index value. On the other hand, Energy is the top-losing sector, losing 0.31% in their index value.

News Corporation (ASX: NWS) and West Gold Resources Limited (ASX: WGX) are the top-gaining stocks, gaining 5.769% and 3.719% in their stock prices. On the other hand, The Star Entertainment Group Limited (ASX: SGR) and Beach Energy Limited (ASX: BPT) went down by 8.000% and 4.951% respectively are the top-losing stocks.

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Top gainer for the day:

• Financial (Up 2.00%)
• Consumer Discretionary (Up 1.88%)

Top loser for the day:

• Energy (Down 0.31%)

Other Factors influencing the market:

• Citi Forecast: Brent crude oil prices are expected to decline to $US60–$US65 per barrel through 2025, down from the current $US75, as non-OPEC+ supply is projected to surpass demand starting in April.
• News Corp Surge: News Corporation shares jumped 6.3%, marking the index’s biggest gain, after reporting higher Q2 revenue and income, fueled by record residential earnings from its real estate division.
• PEXA Decline: PEXA Group Limited shares fell 4.4% following an upward revision of its FY25 impairment forecast to $35M–$40M. The company also announced the resignation of its Australia CEO, Les Vance.
• Magellan Performance: Magellan Financial Group saw a 1.9% share increase after reporting stable retail and institutional flows in January, despite concerns over potential outflows following the recent departure of veteran fund manager Gerald Stack.
• Beach Energy Drop: Beach Energy Limited shares declined 3.3%, despite a 37% profit rise, as the company narrowed its FY25 guidance range.
• US Markets: The Dow Jones closed up 0.71%, the S&P 500 gained 0.39%, and the NASDAQ rose 0.19%.
• Global Markets: The Hang Seng Index is up 0.63%, while the FTSE 100 gained 0.61%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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