ASX 200 Ended Lower This Week; Iron Ore Prices Dropped

By the end of the trading session on 15 July 2022, the benchmark index S&P/ASX 200 ended lower by 0.68% and settled at 6,605.60. Out of 11 sectors, 6 sectors closed lower along with the gain in the ASX 200.

The Consumer Staples and Healthcare sectors were the top 2 gaining sectors, gained 1.01% and 0.97% in their index value. On the other hand, the Materials and Telecommunication Services sectors were the top 2 losing sectors, declined 3.21% and 0.74% in their index values.

Zip Co Limited (ASX: ZIP) and Wisetech Global Limited (ASX: WTC) were the top gainers with 5.555% and 3.421% growth in share prices, respectively. On the other hand, Pendal Group Limited (ASX: PDL) and Mineral Resources Limited (ASX: MIN) were the top losers, with a 7.844% and 7.525% drop in share prices, respectively.

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Top Performers for the day:

• Consumer Staples (Up 1.01%)
• Healthcare (Up 0.97%)

Top Loser for the day:                                    

• Materials (Down 3.21%)
• Telecommunication Services (Down 0.74%)

Other Factors influencing the market:

• The investment Manager Pendal Group Limited’s share price dropped 7.844% after the group reported lower-than-expected outflows in the June quarter from its managed funds.
• Iron ore majors dropped again today after a heavy fall in the iron ore price overnight, being attributed to concerns over China’s lockdown-hit property market and the broader economy.
• China’s gross domestic product growth fell to 0.4% year-on-year for the June quarter, compared to 4.8% in the March quarter.
• Wisetech Global Limited’s share price jumped after the company lifted its annual earnings forecast, pointing to stronger top-line growth and improved cost savings.
• Oil prices rose today amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains.
• Federal Reserve governor Christopher Waller backed raising rates by 75 basis points this month after a hot inflation report, though he said he could go bigger if warranted by the data.
• Dow has closed down by 0.5%, S&P 500 down by 0.3%, and NASDAQ closed higher by 0.03%.
• Hang Seng is down by 2.12%, and FTSE 100 is down by 1.63%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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