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The S&P/ASX 200 closed 22.4 points higher, up 0.28%.It was another solid performance by local stocks today as a combination of positive overseas stock and bond market leads, plus a solid bounce in commodity prices helped drive broad-based gains. Real Estate, Tech, Energy, and Resources stocks extended their gains from yesterday's record-beating index performance, while Industrials and Financial stocks lagged.News that global lithium giant Albemarle is planning to drastically cut production at its WA-based operations sent several other local producers higher on hopes the price is finally low enough to drive out supply out and rebalance the market. The news didn't help lithium prices, though, they were down sharply again in China.[URL unfurl="true"]https://www.marketindex.com.au/news/evening-wrap-asx-200-logs-record-as-big-bounce-in-metals-and-crude-oil[/URL]
The S&P/ASX 200 closed 22.4 points higher, up 0.28%.
It was another solid performance by local stocks today as a combination of positive overseas stock and bond market leads, plus a solid bounce in commodity prices helped drive broad-based gains. Real Estate, Tech, Energy, and Resources stocks extended their gains from yesterday's record-beating index performance, while Industrials and Financial stocks lagged.
News that global lithium giant Albemarle is planning to drastically cut production at its WA-based operations sent several other local producers higher on hopes the price is finally low enough to drive out supply out and rebalance the market. The news didn't help lithium prices, though, they were down sharply again in China.
[URL unfurl="true"]https://www.marketindex.com.au/news/evening-wrap-asx-200-logs-record-as-big-bounce-in-metals-and-crude-oil[/URL]
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