0547 GMT - Australia's S&P/ASX 200 closed 0.7% higher at 8205.4, helped by big gains in lithium stocks. Arcadium Lithium finished the day 46% higher after Rio Tinto said it made an approach to buy the company. That news benefited other Australian lithium producers including Liontown Resources, which gained 19%. Rio Tinto fell by 2.0%. Banking stocks were solid performers, with Commonwealth Bank of Australia rising by 1.5% and Westpac up 2.1%. West African Resources ended sharply lower, losing nearly 20% of its value, as investors fretted that Burkina Faso's junta could withdraw some mining permits. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
October 07, 2024 01:47 ET (05:47 GMT)
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