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Best and worst stocks on the ASX today

The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has posted a gain of 0.75% today, following a rally on US markets overnight which led to the Dow Jones finishing up 0.56% and the S&P 500 gaining 0.44%.

Wall Street gained following the release of positive house price data which appeared to renew investors’ confidence in the economy. Biotech stocks also rebounded after some heavy selling in the past few days.

In domestic news, the announcement that the government will proceed with the sale of health insurer Medibank Private and speculation that the Chinese government may look to further stimulate the slowing Chinese economy appeared to heighten investor enthusiasm for stocks.

Here are the top five best performing stocks in the index today:

  • Mount Gibson Iron Limited (ASX: MGX) jumped 6.5% to 82.5 cents
  • JB Hi-Fi Limited (ASX: JBH) rallied  6.4% to $18.80
  • Automotive Group Holdings Ltd (ASX: AHE) rose 5.6% to $3.80
  • Beadell Resources Ltd (ASX: BDR) climbed 5% to 63 cents
  • Arrium Ltd (ASX: ARI) closed up 5% to $1.37

These stocks were the losers on the day:

  • Lynas Corporation Limited (ASX: LYC) slumped 10% to 18 cents
  • Nufarm Limited (ASX: NUF) dropped 5.3% to $3.91
  • Sky Network Television Ltd (ASX: SKT) fell 3.3% to $5.87
  • Karoon Gas Australia Limited (ASX: KAR) slipped 3.2% to $2.43
  • Sirius Resources N.L. (ASX: SIR) closed down 3.1% to $2.51

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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