ASX/200 Closed Lower by 0.28%, Dragged down by A-REIT

By the end of the trading session on 12 December 2024, the benchmark index S&P/ASX 200 closed lower by 0.28% and settled at 8,330.30. Out of 11 sectors, 09 sectors ended lower along with the S&P/ASX 200.

Information Technology and Financials are the top-gaining sectors, gaining 0.40% and 0.08% in their index value. On the other hand, A-REIT and Telecommunications are the top-losing sectors, losing 1.12% and 0.99% in their index value.

Insignia Financial Limited (ASX: IFL) and Beach Energy Limited (ASX: BPT) are the top-gaining stocks, gaining 11.111% and 9.876% in their stock prices. On the other hand, Ventia Services Group Limited (ASX: VNT) and Downer EDI Limited (ASX: DOW) went down by 22.559% and 5.955% respectively are the top-losing stocks.

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Top gainer for the day:

• Information Technology (Up 0.40%)
• Financial (Up 0.08%)

Top loser for the day:

• A-REIT (Down 1.12%)
• Telecommunications Services (Down 0.99%)

Other Factors influencing the market:

• Syrah Resources faced a challenging day, plunging 28% to 19c after declaring force majeure at its Balama Graphite operation in Mozambique, triggered by nationwide protests following a contested general election.
• Capstone Copper climbed 1.6% to $10.75 after Citi initiated coverage with a “buy” rating, citing “positive earnings momentum” for the metal producer.
• Pilbara Minerals rose 4% to $2.36 after CEO Dale Henderson increased his holdings, showing confidence in the lithium producer despite ongoing challenges.
• HMC Capital advanced 3.9% to $12.15, buoyed by Morgan Stanley’s upgraded price target, reflecting optimism around the asset manager’s platform and fee growth potential.
• Bitcoin rallied back above $US100,000, fueled by US inflation data that strengthened expectations of another Federal Reserve rate cut.
• Oil prices increased by over $US1 on Wednesday after the European Union announced new sanctions targeting Russian oil flows, potentially tightening global crude supplies.
• In the equity markets, the Dow Jones Industrial Average slipped 0.22%, while the S&P 500 gained 0.82%. The NASDAQ saw a 1.77% uptick.
• Meanwhile, the Hang Seng rose 1.44%, and the FTSE 100 edged up 0.26%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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