Australia's Lynas Rare Earths jumps as US-Ukraine minerals deal not signed

Shares of Lynas Rare Earths LYC.AX rise 3.7% to A$7.125, making them the second-biggest gainers on the S&P/ASX 200 .AXJO index, which is down 0.6%

Stock rose as much as 4.4% earlier in the day to hit its highest level since January 16

U.S. President Donald Trump pauses military aid to Ukraine, obstructing a deal to open up Ukraine's critical minerals to U.S. investment

Last month, Lynas said it had the rare earths the West needs, while adding that tapping existing resources was much easier than developing anew in other countries

About 3.5 million shares change hands, vs the 30-day average of 3.4 million

Stock up 10.8% this year, including the day's move