The S&P / ASX 200 Index (^AXJO) (XJO.AX) has surged 1.5% to close at 4,881.7, despite weak Australian economic data saw business conditions fall to their worst levels in four years. Most sectors saw positive results, besides Telecommunications, with A-REITs, Information Technology and the financials leading the way.
Here?s the five best performing stocks in the index.
Discovery Metals (DML.AX) surged 19.4% to close at 18.5 cents, Buru Energy (BRU.AX) rose 11.9% to $1.50. Silver Lake Resources (SLR.AX) added 8.3% to finish at 65.5 cents, while fellow gold miners Beadell Resources (BDR.AX) and Resolute Mining (RSG.AX) added 5% and 5.7% respectively.
The following stocks were the biggest losers on the day.
Billabong International (BBG.AX) shares fell off a cliff, losing 15.8% to end at 24 cents, Medusa Mining (MML.AX) lost 12.1% to close at $1.45 and Mineral Deposits (MDL.AX) fell 11.4%. Sirius Resources (SIR.AX) continued its recent slide, losing another 5.1% to finish at $2.03, while Caltex Australia (CTX.AX) dropped 3.6%, ending at $18.04.
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Motley Fool writer/analyst Mike King owns shares in Sirius, Silver Lake and Billabong.