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Week-to-date the ASX200 rebounded 1.6% and gained 0.8% on Friday. Lithium shares such as Allkem (ASX:AKE), Liontown Resources (ASX:LTR) and Pilbara Minerals (ASX:PLS) all gained, as well as Vulcan Energy (ASX:VUL) after announcing its brought on board Stellantis, the European automotive manufacturing giant, as its second largest shareholder. And tech stocks made strong gains on Friday. It was the best performing sector, up 6%, with family app Life360 (ASX:360) and BNPL company Zip (ASX:ZIP) leading the ASX200, up 22% and 25% respectively. The tech rally followed the jump in US tech shares the previous session.
The most traded stock by Bell Direct clients was Lake Resources (ASX:LKE), which rebounded 15% on Friday, after falling 55% Monday to Thursday, following the departure of the company’s CEO. Lake Resources was the worst performing stock of the week, down 49% Monday to Friday. Also highly traded on Friday was Chalice Mining (ASX:CHN), Westpac (ASX:WBC), Amcor (ASX:AMC) and BHP Group (ASX:BHP).
European stocks had their best session in over three months and US equities also made a strong comeback. All three major US benchmarks rallied. The Dow Jones added more than 800 points, up 2.7%, the S&P500 closed 3% higher at the close, and the tech-heavy Nasdaq also rallied 3% higher.
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