BLOOMBERG.COM
Precious metals led commodities higher, boosting mining stocks, on speculation central banks in some of the world’s leading economies will step up monetary stimulus in the wake of Britain’s decision to leave the European Union. Silver touched a two-year high and gold rallied for a fourth day after the Brexit vote spurred demand for havens. Brent crude held above $50 a barrel as Nigerian militants threatened more supply disruptions, while nickel climbed to an eight-month high after the Philippines announced plans to audit all mining operations. Miners in the Stoxx Europe 600 Index traded at the highest level since April, while automakers and builders led the industries lower. Currencies of commodity producers South Africa Australia, Canada and New Zealand were the best performers among major peers. The Shanghai Composite Index climbed the most since May.
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Precious metals led commodities higher, boosting mining stocks, on speculation central banks in some of the world’s leading economies will step up monetary stimulus in the wake of Britain’s decision to leave the European Union. Silver touched a two-year high and gold rallied for a fourth day after the Brexit vote spurred demand for havens. Brent crude held above $50 a barrel as Nigerian militants threatened more supply disruptions, while nickel climbed to an eight-month high after the Philippines announced plans to audit all mining operations. Miners in the Stoxx Europe 600 Index traded at the highest level since April, while automakers and builders led the industries lower. Currencies of commodity producers South Africa Australia, Canada and New Zealand were the best performers among major peers. The Shanghai Composite Index climbed the most since May.
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