Tylah Tully wraps up the day's movements on the ASX for the sixteenth of September, 2024.
The ASX closed up 0.27%, reaching 8,121.6 points, marking a new 20-day high. Over the past five days, the index has gained 1.35% and is currently 0.33% below its 52-week high.
Alcoa (NYSE:AA) Corporation was the top-performing stock, surging 5.87% to $48.89 following news of its $1.1 billion sale of a 25.1% stake in the Ma'aden Joint Venture to Saudi Arabian Mining Company Ma'aden. This transaction will grant Ma'aden full ownership of the integrated mining complex in Saudi Arabia.
On the downside, Telix Pharmaceuticals Ltd (ASX:TLX) fell 6.46% to $17.82 per share.
Sector performance saw seven out of eleven sectors rise, with communication services leading the gains at 1.08%, followed by financials and real estate, both showing smaller gains. Utilities and health care were the weakest performers, declining by 1.03% and 1.06%, respectively.
In economic news, the Coalition has withdrawn support for proposed Reserve Bank of Australia reforms, which aimed to split the central bank into two entities. Shadow Treasurer Angus Taylor’s opposition has drawn criticism from Treasurer Jim Chalmers, who noted that bipartisan discussions had been extensive.