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ASX closes higher after Wall Street seesaw; Lithium stocks jump again

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The Australian sharemarket finished stronger on Thursday after US stock indexes recovered from big early drops to finish higher, led by a small group of influential big tech companies.

The Australian sharemarket finished stronger on Thursday after US stock indexes recovered from big early drops to finish higher overnight, led by a small group of influential big tech companies.

Among the other mining giants BHP was the only loser, down 1.4 per cent as its shares started trading without the right to its latest dividend. Rivals Fortescue and Rio Tinto both tracked up. Nine Entertainment dropped 2.8 per cent after chief executive Mike SneesbyFinance chief Matt Stanton has been appointed interim CEO amid the search for a successor.IG Australia market analyst Tony Sycamore said the ASX had closed at its highest level since the start of the month after a “stunning turnaround” on Wall Street, finally “breaking free of the 8000 level that has acted like a magnet over the past week.”In the US overnight, the S&P 500 rallied 1.

 

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