Proactive’s Tylah Tully gives a market wrap for October 7.
The ASX closed 0.68% higher ending at 8,205.4 points. Over the past five days, the index remained virtually unchanged but is still 0.97% below its 52-week high.
Top-performing stocks included Arcadium Lithium, which surged 45% (up $1.91 to $6.09 per share) following an approach from Rio Tinto regarding a potential acquisition.
Liontown Resources (ASX:LTR) also saw significant gains, rising nearly 19% to $0.88 per share despite no specific news.
On the downside, West African Resources dropped 19%, trading at $1.34 per share, while Fisher & Paykel shares fell 4.3% to $31.39.
Sector-wise, seven out of 11 sectors closed higher. Information Technology led with a 1.64% rise, followed by Financials, up 1.54%.
On the decline, Utilities was down 0.89%, while Real Estate dropped 0.77%, in tandem with auction clearance rates falling to their lowest since December 2022 (63.9%, according to CoreLogic).
In tech news, OpenAI announced a $6.6 billion private funding round, marking the largest in Silicon Valley history, and boosting its valuation to $157 billion.