Market Alert : Crude Oil Prices Decline on Easing Geopolitical Risk and Emerging Supply Expectations

ASX/200 Closed Lower By 0.07%; Dragged down by Consumer Discretionary

By the end of the trading session on 07 December 2023, the benchmark index S&P/ASX 200 ended lower by 0.07% and settled at 7,173.30. Out of 11 sectors, 07 sectors closed lower along with the ASX 200.



Utilities and Materials sectors were the top-gaining sectors, gaining 0.84% and 0.56% respectively in their index values. Consumer Discretionary and Healthcare sector was the top-losing sectors, losing 0.53% and 0.46% respectively in their index values.



Perpetual Limited (ASX: PPT) and Centuria Capital Group (ASX: CNI) were the top gainers, with 6.691% and 6.451% growth in share prices, respectively. Paladin Energy Limited (ASX: PDN) and Core Lithium Limited (ASX: CXO) were the top losers, with 6.000% and 5.556% drop in share prices, respectively.



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Top gainer for the day:




  • Utilities (Up 0.84%)

  • Materials (Up 0.56%)



Top loser for the day:




  • Consumer Discretionary (Down 0.53%)

  • Healthcare (Down 0.46%)





Other Factors influencing the market:




  • Perpetual saw a 6.7% surge to AU$25.35 after officially rejecting a AU$3 billion buyout proposal following the Wednesday night trading session.

  • Seven West Media experienced a 2% decline, settling at 24.5, as CEO James Warburton disclosed his departure from the Western Australia media empire by the end of the financial year.

  • GQG Partners observed a 4.1% increase, reaching AU$1.53. The listed equities giant attracted $US9 billion (AU$13.7 billion) in inflows to its strategies during November.

  • A downturn in energy stocks, influenced by a drop in oil prices, is causing a decline in the ASX, despite gains in the mining and tech sectors.

  • The Dow closed with a 0.19% increase, the S&P 500 rose by 0.39%, and the NASDAQ concluded higher with a 0.58% gain.

  • The Hang Seng is down by -1.15%, while the FTSE 100 is up by 0.34% on the current trading day.



 Top 5 Gainers and Losers Scoreboard:





90-Day Average Volume Outlier:





 



 



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