Mid-Market: S&P/ASX 200 Trading Higher; Arcadium Lithium Up By 50%

On 07 October 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 4.20 points or 0.06%, and is currently trading at 8,154.20 levels. Out of 11, 4 sectors are trading higher along with the gain in the S&P/ASX 200.

The Financials and Information Technology sectors are the top 2 gaining sectors, gaining 0.64% and 0.45% in their index values. On the other hand, A-REIT and Utilities sectors are the top 2 declining sectors, declining 1.38% and 0.91% in their index values.

Arcadium Lithium Ltd (ASX: LTM) and Liontown Resources Limited (ASX: LTR) are the top-gaining stocks, gaining 44.258% and 5.405% in their stock prices. On the other hand, West African Resources Limited (ASX: WAF) and Deep Yellow Limited (ASX: DYL) are the top-losing stocks and are declining by 25.226% and 5.981% in their stock prices.

Factors influencing the market-

• Australian shares are rising as tech stocks pushed higher, while traders weighed the risks of a deepening conflict in the Middle East and potential disruptions in oil supply.
• Rio Tinto Limited’s shares are falling after the mining giant confirmed it was considering buying Arcadium Lithium. Arcadium was the biggest gainer on the index, up 50%.
• Iron ore prices rallied in early trade on Monday on optimism about China’s economic outlook following Beijing’s flurry of stimulus measures. The November futures contract traded in Singapore rose 1.2% to $US110.
• Oil prices opened lower on Monday as traders weighed the risks of a deepening conflict in the Middle East and potential disruptions in oil supply.
• The Dow has closed up by 0.81%, the S&P 500 closed up by 0.90%, and the NASDAQ ended higher by 1.22%.
• Hang Seng is up by 2.82%, and FTSE 100 is down by 0.02%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com