AU Evening Wrap: Australian Shares Rise 0.6% to Record Close

Australia's $S&P/ASX 200 (.XJO.AU)$ rose 0.6% to a record close of 7745.6. The benchmark index rallied from a brief mid-session dip into the red to set its first record close since Feb. 2, finishing at a session high. Materials and technology were the two best-performing sectors, adding 2.0% and 1.9%, respectively. The ASX 200 rose 1.3% for the week.

Lithium stocks pared recent losses, with $Liontown Resources Ltd (LTR.AU)$, $Sayona Mining Ltd (SYA.AU)$ and $Core Lithium Ltd (CXO.AU)$ jumping between 4.05% and 14%. All three are still in the red for 2024.

Family safety app developer $Life360 Inc (360.AU)$ led gains, surging 38% for its best-ever day after announcing plans for third-party advertising on its platform.

Banks $Westpac Banking Corp (WBC.AU)$, $National Australia Bank Ltd (NAB.AU)$, $CommBank (CBA.AU)$ and $ANZ Group Holdings Ltd (ANZ.AU)$ added between 0.2% and 1.05%.