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Reuters New Zealand

Australia shares firm slightly, Fortescue jumps

Thursday June 11, 04:04 PM

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(Updates Fortescue, adds banks)

WELLINGTON, June 11 (Reuters) - Australian shares rose 0.5 percent on Thursday, with mining stocks leading the gains on speculation of Chinese bid interest in Fortescue Metals (ASX: FMG.ax) .

The benchmark S&P/ASX 200 index .AXJO was 19.1 points higher at 4,043.5 at 0345 GMT.

New Zealand's benchmark NZX 50 index .NZ50 extended early losses to be 0.8 percent lower at 2,805.7. Earlier the central bank kept interest rates unchanged at 2.5 percent, but left the door open for further rate cuts. [ID:nWEL502629]

STOCKS ON THE MOVE

* Bank shares mixed, with National Australia Bank (ASX: NAB.ax) up 0.5 percent, ANZ Group (ASX: ANX.ax) up 0.2 percent, Westpac (ASX: WBC.ax) down 0.3 percent and Commonwealth bank of Australia (ASX: CBA.ax) down 1.6 percent.

0340 GMT

* Fortescue Metals (ASX: FMG.ax) said it is unaware why its shares have risen almost 50 percent in a week, amid market speculation Australia's third-largest iron ore producer may be the focus of Chinese bid interest. [ID:nSYU006680] [ID:nSYD478005]

0320 GMT

* OZ Minerals OZL.AX shares were placed on trading halt soon after opening, pending the results from its annual meeting, with shareholders due to vote on Thursday on a proposed bid for some of its assets from China's Minmetals. [nSYU006674]

0005 GMT

* The broader mining sector gained on firmer metals prices, with Murchison Metals MMX.AX up 4 percent to A$2.04, Rio Tinto (ASX: RIO.ax) up 3.8 percent to A$75.79, BHP Billiton (ASX: BHP.ax) up 0.7 percent to A$37.97.

0025 GMT

More Quotes and Company Information:
  • ANADIS LIMITED (ASX: ANX.ax)
  • BHP BILLITON(ASX: BHP.ax)
  • COMMONWEALTH BANK OF AUSTRALIA.(ASX: CBA.ax)
  • FORTESCUE METALS GROUP LTD(ASX: FMG.ax)
  • NATIONAL AUSTRALIA BANK LIMITED(ASX: NAB.ax)
  • RIO TINTO LIMITED(ASX: RIO.ax)
  • WESTPAC BANKING CORPORATION(ASX: WBC.ax)

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