ASX/200 Closed lower by 0.56%, Dragged down by Materials
By the end of the trading session on 15 March 2024, the benchmark index S&P/ASX 200 ended lower by 0.56% and settled at 7,670.30. Out of 11 sectors, 08 closed lower along with the ASX 200.
Energy and Utilities were the top-gaining sectors, gaining 1.80% and 1.05% respectively in their index values. Materials and Consumer Discretionary were the top-losing sectors, losing 1.98% and 1.32% respectively in their index values.
Strike Energy Limited (ASX: STX) and Telix Pharmacy Limited (ASX: TLX) were the top gainers, with 6.122% and 4.679% growth in share prices, respectively. On the other hand, Emerald Resources Limited (ASX: EMR) and Liontown Resources Limited (ASX: LTR) were the top losers, with 10.063% and 8.425% drop in share prices, respectively.
Core Lithium shares declined by 5.3% to 18¢ following the announcement of the mothballing of its Finniss mine due to the downturn in lithium prices.
Copper prices continued their upward trend, surpassing $US9000 per tonne for the first time since April 2023. This surge was fueled by China's decision to reduce production. Additionally, oil prices rose as investors speculated that the OPEC+ group would prolong output cuts.
Major banks experienced losses after UBS joined other analysts in expressing concerns about valuation risks. National Australia Bank, Westpac, and Commonwealth Bank were all rated as sells by UBS.
In the US, treasury yields rose significantly following a report indicating a 0.6% month-on-month increase in producer prices for February. This exceeded economists' expectations of a 0.3% advance, raising concerns about inflation.
The Dow closed down by 0.35%, the S&P 500 by 0.29%, and the NASDAQ by 0.30%.
Overseas, the Hang Seng index dropped by 2.28%, while the FTSE 100 declined by 0.37% on the same day.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
Customer Notice:
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ASX/200 Closed lower by 0.56%, Dragged down by Materials
By the end of the trading session on 15 March 2024, the benchmark index S&P/ASX 200 ended lower by 0.56% and settled at 7,670.30. Out of 11 sectors, 08 closed lower along with the ASX 200.
Energy and Utilities were the top-gaining sectors, gaining 1.80% and 1.05% respectively in their index values. Materials and Consumer Discretionary were the top-losing sectors, losing 1.98% and 1.32% respectively in their index values.
Strike Energy Limited (ASX: STX) and Telix Pharmacy Limited (ASX: TLX) were the top gainers, with 6.122% and 4.679% growth in share prices, respectively. On the other hand, Emerald Resources Limited (ASX: EMR) and Liontown Resources Limited (ASX: LTR) were the top losers, with 10.063% and 8.425% drop in share prices, respectively.
Top gainer for the day:
Top loser for the day:
Other Factors influencing the market:
Core Lithium shares declined by 5.3% to 18¢ following the announcement of the mothballing of its Finniss mine due to the downturn in lithium prices.
Top 5 Gainers and Losers Scoreboard:
90-Day Average Volume Outlier:
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au