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China's measures help lift markets to new highs

China’s announced measures to boost its economy have buoyed markets, with key indices rising yesterday and the S&P 500, Germany’s DAX and the S&P/ASX 200 closing at fresh highs.
China's measures help lift markets to new highs China's measures help lift markets to new highs China's measures help lift markets to new highs China's measures help lift markets to new highs China's measures help lift markets to new highs

A pond at Orocobre’s Olaroz lithium operation in Argentina

Staff reporter

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.