The Mid-Market Pulse || Why Did The Commodity Market Trade On A Weak Note Today?

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

• The Australian stock market continued to trade higher by afternoon, reclaiming the 7,000 level, amid strong buying interest in energy, utilities, realty and industrial stocks.

• The energy index is the top performer, surging 1.75%, followed by A-REIT, Energy, Telecommunications Services, Consumer Discretionary, Utilities, Consumer Staples, Industrials, among others. Health Care and Information technology are the worst performing sectors. 

• the ASX opened higher by 24 points or 0.34% to 7,006.70 after Wall Street settled with robust gains. The market remained under pressure this week as investors remained concerned that potential rise in US inflation may force Federal Reserve to raise rates sooner than expected. 

• Whitehaven Coal (ASX:WHC) is the top gainer on ASX, rising 8.76% to AU$1.365, followed by Perenti Global Limited (ASX:PRN), which rises nearly 7% after declining over 27% in previous session. Among others,  Breville Group Ltd. (ASX:BRG), Treasury Wine Estates (ASX:TWE) and Champion Iron Limited (ASX:CIA), are among notable gainers. 

• Some of the worst performing shares are Xero (ASX:XRO), Pilbara Minerals Limited (ASX:PLS), Lynas Corporation Limited (ASX:LYC), NRW Holdings Limited (ASX:NWH) and EML Payments Limited (ASX:EML). 

• The Health and Plant Protein Group Limited (ASX:HPP) is trading at AU$0.250 per share on the ASX. 

• Aldoro Resources Limited (ASX: ARN) has announced that it is set to initiate high impact drilling program at the Narndee Nipge project.


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