http://nz.biz.yahoo.com//090611/26/cssl.html
(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
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