The Mid Market Pulse || ASX Crosses 7,400 Mark: What Lies Ahead For Market

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The Mid Market Pulse || ASX Crosses 7,400 Mark: What Lies Ahead For Market

This is The Mid Market Pulse. Lets get started with the mid market commentary for today and see how ASX 200 traded by lunchtime.

• The ASX 200 is trading higher by 23.50 points or 0.32% at 7,403, setting a new 100-day high. Earlier today, the index opened marginally higher at 7,379.50, following a weak trade by the US shares overnight.  

• The index heavyweights Beach Energy (ASX:BPT), Woodside Petroleum (ASX:WPL), Oil Search (ASX:OSH) and Santos (ASX:STO)  rose up to 2%. 

• The major gold miners such as Northern Star Resources (ASX:NST), Newcrest Mining (ASX:NCM), De Grey Mining (ASX:DEG), Evolution Mining (ASX:EVN) and Ramelius (ASX:RMS) remained under stress.  

•  iron miner stocks BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) trade in red, while Fortescue Metals Group (ASX:FMG) rises.

• In tech space, Afterpay (ASX:APT), Xero (ASX:XRO), WiseTech (ASX:WTC) and Altium (ASX:ALU) trade in red during mid-market trade on Wednesday.

• Investment management firm Challenger Ltd (ASX: CGF) is the top gainer on the ASX, rising 2.25% to AU$5.69.

• Mineral Commodities Limited (ASX:MRC) has announced that the Memorandum of Understanding (MOU) between the company and Superior Graphite is about to end.

• Lion Energy Limited (ASX:LIO) informed the exchange that its subsidiary, Balam Energy (Operator of the East Seram PSC), has completed the first phase of interpretation of the 664 km high resolution 2D seismic data. 

• The Board of AF Legal Group Ltd (ASX:AFL) has announced that it has now completed its acquisition of Watts McCray (NSW) Pty Ltd, one of Australia’s leading family law firms


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