S&P/ASX 200 jumps 1.68% to eight-month high as consumer confidence hits seven-year record

S&P/ASX 200 (INDEXASX:XJO) surged 1.68% to an eight-month high of 6,447 by around 1.41 pm as consumer confidence in Australia rose to its highest level in seven years with consumers buoyed by falling COVID-19 infections and the re-opening of Victoria. The Westpac measure of consumer sentiment surged 2.5% in November after an 11.9% jump in October. Notably, consumer sentiment is now 35.3% up from August to be at its highest point since November 2013. Beaten down stocks gain The S&P/ASX 200 has surged 6% over the past week along with the US election results and Pfizer’s positive COVID-19 vaccine trial results yesterday. Many ASX 200 stocks which fell heavily in recent months have bounced back over the last week including energy stocks, financials and travel companies. Commonwealth Bank of Australia’s (ASX:CBA) first-quarter cash profit fell 16% to $1.8 billion, but shares are up by 2.29% as the lender says deferral balances are shrinking and its loan book growing. Top gainers Today’s top gainers on the ASX include Red River Resources Limited (ASX:RVR) (+14.29%), Opyl Ltd (ASX:OPL) (+14.29%), VIP Gloves Ltd (ASX:VIP) (+11.11%), Imugene Limited (ASX:IMU) (+14.52%), Whitebark Energy Ltd (ASX:WBE) (+50.00%), King River Resources Ltd (ASX:KRR) (+11.54%) and Eclipse Metals Ltd (ASX:EPM) (+10.00%). Proactive news headlines: Piedmont Lithium launches spodumene concentrator pilot test program for flagship US project Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) will partner with SGS Canada Inc to complete a pilot-scale spodumene concentrator test-work program using a bulk sample collected from the Piedmont Lithium Project in North Carolina. Great Southern Mining to resume drilling next month at Cox's Find gold deposit Great Southern Mining Ltd (ASX:GSN) is set to resume drilling early next month at Cox’s Find gold deposit in the Duketon Greenstone Belt of Laverton Gold District in WA. Bellevue Gold lifts indicated resource by 20% to 1.04 million ounces at 11.4 g/t gold Bellevue Gold Ltd’s (ASX:BGL) recent infill drilling at the Deacon and Bellevue North lodes has increased the indicated resource at its flagship gold project in Western Australia by 20% to 1.04 million ounces of gold at 11.4 g/t. Red River Resources higher on confirming extensive high-grade silver-indium system at Orient Red River Resources Ltd (ASX:RVR) (FRA:R1R) is higher after sampling and mapping at Orient Silver Project near Herberton defined an extensive high-grade silver-indium system at the Orient project near Herberton in northern Queensland. European Lithium ready to explore in hottest gold spot in Australia European Lithium Limited (ASX:EUR) (FRA:PF8) (VIE:ELI) is preparing to hit the ground running at a newly granted tenement in Australia’s hottest gold region in Western Australia’s northwest. Matador Mining’s drilling continues to expand mineralised footprints at Cape Ray Gold Project in Canada Matador Mining Ltd’s (ASX:MZZ) drilling continues to expand the mineralised footprints at its Cape Ray Gold Project in Newfoundland, in Canada, with the Angus discovery mineralised area expanding by at least 120,000 square metres. Brookside Energy launches new funding initiative for Jewell well development in SWISH AOI Brookside Energy Ltd (ASX:BRK) has launched a new funding initiative to secure capital for drilling and completion of the highly anticipated Jewell Well in the SWISH AOI in Anadarko Basin of Oklahoma, USA. Lithium Australia subsidiary Envirostream's field trial using products from recycled alkaline batteries as fertilisers shows immense promise Lithium Australia NL’s (ASX:LIT) (FRA:3MW) 90%-owned subsidiary Environstream Australia Pty Ltd has received a positive response from a field trial using manganese and zinc derived from recycling of alkaline batteries as micronutrients to conventional mono-ammonium phosphate (MAP) fertiliser. Nomad Royalty underlines portfolio strength as it posts increased income and revenue in third quarter Nomad Royalty Company Ltd (TSE:NSR) (FRA:IRLB) has posted strong third-quarter results, which saw it increase net income and revenue, and allowed the firm to declare another dividend payment, which will be paid in January next year.