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Market Close 10 Oct 24: Rio snaps up lithium giant Arcadium
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Aussie stocks rebounded today with the ASX200 up by roughly a third of a percent, nearing a record high, despite some midday fading. Mining and energy sectors led the charge, fuelled by hopes for Chinese stimulus and Rio Tinto's $10 billion acquisition of Arcadium Lithium, its biggest deal in 17 years. Lithium miners surged, with Arcadium's shares up 39% and optimism spreading across the sector. In the US, all eyes are on inflation data, which could influence upcoming interest rate decisions. Meanwhile, companies like Netwealth and Cochlear made gains on positive updates and dividend payments.
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