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The ASX200 closed up a fifth of a percent at 8,209 points as the Index finished the week just below an all-time high of 8,246 set in intra-day trade.
Australian markets continue to track Wall Street’s positive sentiment and a growing belief amongst investors the US Fed Rate cut will secure a goldilocks scenario for the American economy.
Back home, sectors were a mixed bag and Discretionary gained more than 1.1%, followed by Utilities half a percent. Real Estate was the biggest loser, down 0.6%.
In the Green
Family tracking app Life360 (ASX:360) closed up more than 5% after its share price has climbed 130% year to date. Brokers are optimistic the stock will continue its run, with Goldman Sachs setting a price target of $19.75 and Bell Potter seeing the stock rising to $20.50.
Life360 closed at $18.09.
Regis Healthcare (ASX:REG) leapt more than 1.7% per cent on plans to buy two aged care homes at Victoria’s Mornington Peninsula for $35.5 million. With more than 260 beds across the two homes, the acquisition is consistent with the company’s expansion strategy.
Regis Healthcare called it a day at $5.93.
Car equipment provider Bapcor (ASX:BAP) closed up around 2.2% on news it was selling its diesel fuel injection business MTQ Engine Systems. The sale aligns with the company’s goals of simplification, resetting the cost base and exiting non-core businesses.
Bapcor closed at $5.13.
In the Red
One of the globe’s biggest lithium miners, Arcadium Lithium (ASX:LTM) has finished down around 0.8%, after casting doubt on its future in Australia less than a year after saying it would strongly seek investment opportunities here. The company is planning to leave Australia and pursue opportunities in South America and Canada.
Arcadium Lithium closed at $3.69.
Company 2
Inghams (ASX:ING) fell 4.2% after going ex-dividend. The chicken company is scheduled to conduct its AGM in Sydney on the 14th of November,
Inghams closed at $2.92.
Latin Resources (ASX:LRS) closed down 2.5% after UBS and Deutsche Bank both sold down their respective positions.
Latin Resources closed at 19.5 cents.
