The S&P/ASX200 retreated 177.40 points today (2 August 2024) to close at 7,937.30 following US stocks down on suggestions of a slowing in the US economy.
This comes after the index hit a new 52-week high on Thursday (1 August 2024) of 8,114.70.
Financial technology conglomerate Block Inc (ASX:SQ2) led the gainers, adding nearly 5% to close at just under $100. Capricorn Metals (ASX:CMM), Gold Road Resources (ASX:GOR) and Newmont (ASX:NEM) were also in the top five, advancing 1.8%, 1.5% and 1.3% respectively.
The bottom performing stocks were dominated by the uranium players, with Deep Yellow (ASX:DYL) down 18.3%, Boss Energy (ASX:BOE) down 13.2% and Paladin Energy (ASX:PDN) dipping 11.3%.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the Australian Securities Exchange (ASX) by float-adjusted market capitalisation
It is recognised as the institutional investable benchmark in the country.
Over the last five days, the index is virtually unchanged, but is currently 2.59% below its 52-week high.
Write to Angela East at Mining.com.au
Images: Unsplash and ASX
