Overnight markets surged again, SPI was up 32 points, and after a brief morning lull, local investors concluded that a Santa rally of sorts was overdue. Most commodities firmed overnight - with the notable exception of iron ore - with miners initially dominating the top 5 on the ASX200 ladder. Corporate news is still coming thick and fast: trading in Syrah Resources was paused after a 22% surge sparked by an announcement of a natural graphite offtake agreement with Tesla. At the other end, a 10% slump in Bega after its downbeat trading update. After two weeks of being an investors punching bag, Magellan did a Lazarus and at one stage added nearly 4%, but closed up 1.8%. And with all that - and for our final market wrap of 2021 - the ASX200 closed up 23 points or 0.3%. Merry Christmas!

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