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Light at end of lockdown tunnel lifts markets

Markets closed higher as investors look towards lockdowns easing, with US president Donald Trump using the momentum to call for states to open up ASAP.
Light at end of lockdown tunnel lifts markets Light at end of lockdown tunnel lifts markets Light at end of lockdown tunnel lifts markets Light at end of lockdown tunnel lifts markets Light at end of lockdown tunnel lifts markets

Sprott Resource Holdings, which has a 70% stake in Chile copper producer Minera Tres Valles, was among the market risers

Staff reporter

"Stock market up BIG, DOW crosses 25,000. S&P 500 over 3000," he tweeted.

"The transition to greatness has started, ahead of schedule. There will be ups and downs, but next year will be one of the best ever!"

The S&P 500 softened towards the end of trade but closed up 1.2% to 2,991.77, while the FTSE 100 also gained 1.2% and Japan's Nikkei 225 rose 2.55% yesterday.

IG senior market analyst Joshua Mahony noted much of the bullish price activity in European and US markets was driven by optimism around the easing of lockdown measures.

The gold price is about US$15 an ounce lower than this time yesterday, at $1,714/oz on the spot market.

Precious metals producer Fresnillo (LSE: FRES) closed 2.8% lower in London.

Copper major Freeport-McMoRan (NYSE: FCX) enjoyed a gain of 5.95% in the US.

Metals and mining stocks were up 1.6% in Toronto, where Sprott Resource Holdings (TSX: SRHI) - part of the Sprott group of companies - gained 52% or C12c on no news to rise further off last week's one-year low.

Its main asset is its 70% stake in the Minera Tres Valles copper mine in Chile.