Afternoon update: ASX dips 0.11%, Allkem shines, Global markets mixed

The S&P/ASX 200 index is currently trading 0.11 per cent lower at a value of 7,140.20. The SPI futures are down by 14 points. When turning to sectors, the Consumer Discretionary sector is the best-performing, up by 1.24 per cent, while the Consumer Staples sector is the worst-performing, down by 1.33 per cent.

Among large-cap stocks, Allkem (ASX:AKE) is the top performer, trading 4.55 per cent higher at $13.92, followed by BlueScope Steel (ASX:BSL) and Liontown Resources (ASX:LTR). On the other hand, Mercury NZ (ASX:MCY) is the worst-performing large-cap stock, after releasing its FY23 full year results and is down by 4.72 per cent at $5.85, followed by Endeavour Group (ASX:EDV) and Meridian Energy (ASX:MEZ).

In other Asian markets, Japan's Nikkei has gained 0.68 per cent, Hong Kong's Hang Seng has lost 1.38 per cent, and China's Shanghai Composite has lost 0.20 per cent. In commodities trading, gold is priced at US$1,921.50 per ounce, and light crude oil is trading $0.66 higher at US$81.91 per barrel. The exchange rate is noted as one Australian dollar being equivalent to 64.08 US cents.
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Source: Finance News Network