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Another day, another record on Wall Street. Down under on the ASX gains have been more modest of late. Leading the market higher today was a bounce in the blue chip banks, with the miners struggling as commodity prices were lower.
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Alibaba Group Holding (NYSE:BABA) soared in its market debut today, trading as much as 46 percent above its initial public offering price of $68 and making the Chinese e-commerce company one of the most valuable companies in the U.S. The stock opened at $92.70 and nearly hit $100 on the New York Stock Exchange.
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Minera Gold (ASX:MIZ) is on the road to generating earnings with the acquisition of the San Santiago gold and copper processing plant in Peru, and has now settled the deal with management [...]