The ASX200 closed up 0.44% at 8,223 points.
Investor’s enthusiastic mood reflects sustained expectation of further rate cuts in the United States, and Chinese stimulus.
All eyes are now on tonight’s US inflation data, with a majority of analysts predicting September CPI will come in at 2.3%, a point two percent drop from August’s read of 2.5%.
Materials was the strongest performing sector, up 1.6%, followed by Energy, up 1% and Real Estate, up 0.49%.
Utilities was the worst performer, down around 0.9% and Health Care , down 0.3%.
In the Green
Patriot Lithium (ASX
AT) closed up 13.51% after inking a deal to buy an 80% interest in Array Metals and Natural Resources’ Katawaro Copper Project (KCP) in Zambia.
Patriot Lithium closed at 4.2 cents.
ARB Corporation (ASX:ARB) closed up 1.77% on news its deal to buy the 4 Wheel Parts business from Hoonigans is progressing in the United States.
ARB closed at $44.38.
Vection Technologies (ASX:VR1) closed up more than 14% after making a $3.6 million software licence distribution agreement in Italy. The company’s software will be in use in 500 Italian high schools by the end of FY25.
Vection Technologies closed at eight tenths of a cent. ($0.008)
In the Red
Power Minerals (ASX
Power Minerals closed at 11 cents.
Graincorp (ASX:GNC) finished down 1.86% after broker Bell Potter downgraded the stock from “buy” to “hold”, and cut its price target from $10.20 to $9.80.
Graincorp closed at $8.97.
Kula Gold (ASX:KGD) closed down around 6.7% after reporting an exploration update for its Mt Palmer East Prospect, located in WA.
Recent explorations have revealed historical data, highlighting the potential for gold mineralisation.
Kula Gold closed at seven tenths of a cent ($0.007).
