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Lynas Corporation, Ltd.

Australian Shares End Up, Despite Paring Gains Ahead of RBA Decision

Australian shares closed higher Monday, even after paring a sharp rise early on in the session as investors took profits ahead of an interest-rate decision due from the Reserve Bank of Australia on Tuesday.The stock market was buoyed by growing confidence over the state of the U.S. economy after a stronger-than-expected monthly U.S. jobs report. The figures on Friday sparked another record-breaking session on Wall Street.The benchmark S&P/ASX 200 closed up 0.5% at 5156.2 after an early jump to 5201.3.While investor appetite for risk assets, like stocks and commodities, was whetted by the strong U.S. figures, expectations for Australia's central bank to keep rates on hold capped the market."People have positioned themselves for the likelihood of no move," said IG Markets strategist Evan Lucas. A survey of 18 economists by the Wall Street Journal Friday showed just two expecting the RBA to cut interest rates this week.There are, however, increasing expectations for the central bank to cu...

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