ASX/200 Closed Lower by 0.57%, Dragged down by Energy

By the end of the trading session on 06 March 2025, the benchmark index S&P/ASX 200 closed lower by 0.57% and settled at 8,094.70. Out of 11 sectors, 08 sectors ended lower along with the S&P/ASX 200.

Materials and Telecommunications the top-gaining sector gaining 0.18% and 0.14% in their index value. On the other hand, Energy and Utilities are the top-losing sectors losing 2.87% and 2.07% in their index value.

West African Resources Limited (ASX: WAF) and Johns Lyng Group Limited (ASX: JLG) are the top-gaining stocks, gaining 11.936% and 7.751% in their stock prices. On the other hand, Smartgroup Corporation Limited (ASX: SIQ) and Woodside Energy Group Limited (ASX: WDS) went down by 5.339% and 4.727% respectively are the top-losing stocks.

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Top gainer for the day:

• Materials (Up 0.18%)
• Telecommuniactions Services (Up 0.14%)

Top loser for the day:

• Energy (Down 2.87%)
• Utilities (Down 2.07%)

Other Factors influencing the market:

• Myer Holdings Limited (ASX: MYR) surged 5.3% on Thursday after Morgan Stanley expressed confidence in the retailer's new leadership and strategy, suggesting its shares could potentially double.
• Amcor Plc (ASX: AMC) declined 1.7%, trimming earlier steep losses, after announcing plans to restructure its operations post its $13 billion merger with Berry Global. The company also hinted at the possibility of appointing a new chief financial officer.
• Air New Zealand Limited (NZX: AIR) fell 2.7% following the announcement that CEO Greg Foran will step down in October after five years at the helm.
• Mesoblast Limited (ASX: MSB) plunged 8.3% on its first trading session as an ASX 200 constituent, slipping into the red.
• The Australian dollar remained strong at US63.40¢, gaining 1% overnight. With a 2.1% increase this week, it is on track for its best weekly performance since 2023.
• US Gulf Coast refineries had already reduced crude oil purchases from Mexico ahead of the implementation of President Donald Trump’s new tariffs this week.
• Wall Street saw strong gains, with the Dow Jones closing up 1.14%, the S&P 500 rising 1.11%, and the NASDAQ gaining 1.46%.
• Global markets showed mixed performance, as the Hang Seng Index climbed 2.79%, while the FTSE 100 edged down 0.04% for the day.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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