CAPITAL MARKETS

Markets, miners move higher

US tax reform optimism, commodity price rises boost stocks

Staff reporter

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Four of the top five gainers on the S&P/ASX 200 today were mining stocks.

Rare earths producer Lynas Corp (AU:LYC) led the way with a 7.4% rise as it re-entered the index today in the December rebalance.

Graphite developer Syrah Resources (AU:SYR) rose and lithium miner Orocobre (AU:ORE) added to yesterday's gains, both rising more than 5%.

Gold miner Saracen Mineral Holdings (AU:SAR) was up a similar amount as the gold price improved to hold above US$1,262 an ounce on the spot market.

Among the gold majors, Barrick Gold (CN:ABX) had risen 1.65% in Toronto, Newmont Mining (US:NEM) closed up more than 2% in New York and Randgold Resources (LN:RRS) rose 1.9% in London.

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