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Base metals boosted

Base metal prices were boosted in London yesterday following US president Donald Trump’s public irritation at interest rate rises which saw the US dollar lose a little steam.
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Miners mixed on the markets

Staff reporter

The gold price is similar to this point yesterday, around US$1,195 an ounce on the spot market.

Australian stocks were lower following yesterday's unsuccessful leadership challenge against prime minister Malcolm Turnbull.

Meanwhile North American markets - where the S&P500 hit a record high intraday yesterday - are yet to react to legal issues surrounding former Trump staff.

Metals and mining stocks in Toronto closed in positive territory yesterday.

Euro Sun Mining (TSX: ESM) was one of the bigger gainers, up 14% to lift a little further off its 52-week low reached earlier this month. It had been involved in a proposal with Lundin Mining to acquire Nevsun Resources earlier this year, however Lundin is now going alone.

In Australian trade, nickel miner Western Areas (ASX: WSA) was more than 6% lower at the time of writing, one of the bigger drops among larger capitalised stocks in afternoon trade.

It had declared dividends today as it released its full-year results, pointing to a strong return to underlying profitability but flagging rising cash costs.

Finally in London, Rio Tinto (LSE: RIO) closed 1.36% lower yesterday whereas Glencore (LSE: GLEN) had closed up slightly.