CAPITAL MARKETS

China's measures help lift markets to new highs

Gold, lithium stocks rise

Staff reporter
 A pond at Orocobre’s Olaroz lithium operation in Argentina

A pond at Orocobre’s Olaroz lithium operation in Argentina

Futures are also looking up.

Base metals were mixed on the London Metal Exchange.

Tesla stocks were in favour again amid the prospect of a stronger balance sheet, speculation of a new partnership and a bullish broker note all likely contributing to its 6.88% gain yesterday, IG said.

"The party looks like it will keep raging," IG analyst Kyle Rodda tweeted.

Lithium stocks had soared earlier this month as Tesla shares rose above US$900 and were on the rise again yesterday, albeit not in double digits.

Albemarle (NYSE: ALB) gained 0.7%, Livent (LSE: LTHM) was up 2.5% and in Australian trade, Orocobre (ASX: ORE) was 2.7% higher at the time of writing.

Meanwhile Reuters reported yesterday Tesla was in talks to source a cobalt-free battery for its Chinese-produced vehicles.

Finally, the gold price is around a seven-year high and was last worth $1,606/oz on the spot market.

Barrick Gold shares touched C$27.85 intraday, the highest point in about four years.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

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