ASX/200 Closed Lower by 0.64%, Dragged down by Energy

By the end of the trading session on 06 December 2024, the benchmark index S&P/ASX 200 closed lower by 0.64% and settled at 8,420.90. Out of 11 sectors, 10 sectors ended lower along with the S&P/ASX 200.

Utilities are the top-gaining sectors, gaining 0.39% in their index value. On the other hand, Energy and Consumer Discretionary are the top-losing sectors, losing 1.21% and 0.94% in their index value.

Bapcor Limited (ASX: BAP) and Bellvue Gold Limited (ASX: BGL) are the top-gaining stocks, gaining 3.056% and 2.641% in their stock prices. On the other hand, Iluka Resources Limited (ASX: ILU) and Magellan Financial Group Limited (ASX: MFG) went down by 10.037% and 8.620% respectively are the top-losing stocks.

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Top gainer for the day:

• Utilities (Up 0.39%)

Top loser for the day:

• Energy (Down 1.21%)
• Consumer Discretionary (Down 0.94%)

Other Factors influencing the market:

• Iluka Resources Limited (ASX: ILU) shares dropped by 10%, closing at $4.93, after the company announced an additional $214 million cash investment to address the cost overrun in its domestic rare earths refinery project.
• APA Group (ASX: APA) rose 1.4% to $7.27, benefiting from the energy regulator’s decision not to impose full price regulation on its South West Queensland Gas Pipeline.
• Domino’s Pizza Enterprises Limited (ASX: DMP) fell 2.3% to $32.48 after Macquarie downgraded the stock to “underperform,” citing declining franchisee profitability as a risk to its new store expansion strategy.
• 29Metals Limited (ASX: 29M) shares declined 2% to $0.25 after Citi downgraded the stock from “neutral” to “sell,” raising concerns about potential funding challenges.
• Aristocrat Leisure Limited (ASX: ALL) shares dropped 3% to $67.68, following the resignation of Chief Executive Hector Fernandez on Thursday.
• Oil prices softened during early Asian trading on Friday as weak demand overshadowed OPEC+’s decision to delay supply increases and extend deep output cuts through the end of 2026.
• Global Market Movements: The Dow Jones fell 0.55%, the S&P 500 declined 0.19%, and the NASDAQ dipped 0.18%. 
• Meanwhile, the Hang Seng gained 1.58%, and the FTSE 100 increased by 0.16%.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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