Reuters Australia

Australia shares up 0.6 pct; FerrAus, gold miners gain

Thursday July 2, 02:55 PM

(Adds FerrAus, Mithril and gold miners)

MELBOURNE, July 2 (Reuters) - Australian shares rose 0.6 percent on Thursday as companies geared to global growth such as miner BHP Billiton Ltd (ASX: BHP.ax) gained after manufacturing data restored some confidence a global economic recovery was on track.

The benchmark S&P/ASX 200 index .AXJO was up 24.0 points at 3,898.0 by 0250 GMT, recovering from Wednesday's 2.1 percent fall. New Zealand's benchmark NZX 50 index .NZ50 gained 9.04 points, or 0.3 percent, to 2,789.4.

STOCKS ON THE MOVE

* Newcrest Mining Ltd (ASX: NCM.ax) , Australia's top gold miner, gained 2.7 percent to A$31.11 and Lihir Gold Ltd LGL.AX advanced 2.7 percent to A$3.01. The gold producers rose after the price of the precious metal soared with U.S. gold futures nearing $950 an ounce. [ID:nN01527965]

0230 GMT

*FerrAus Ltd FRS.AX gained 4.2 percent to A$0.50 after saying it owned 100 percent of the Silver Swan North nickel and gold project in Australia's west after BHP and Mithril Resources Ltd (ASX: MTH.ax) withdrew from the joint venture. Mithril shares fell 6.7 percent to A$0.14.

0203 GMT

* Rio Tinto Ltd (ASX: RIO.ax) firmed 1.5 percent to A$52.37 percent after the global miner received strong support for its $15.2 billion rights offer in the UK. [ID:nSYD476934].

0203 GMT

* BHP Billiton advanced 1.8 percent to A$34.51 as economic recovery hopes helped push copper to its highest level in more than two weeks. [ID:nL1657892]

0203 GMT

* Extract Resources (ASX: EXT.ax) rose 2.6 percent to A$6.40 after the uranium exploration group said it had upgraded the resource estimate at its Rossing South uranium deposit in Namibia.

0052 GMT (Reporting by Simone Giuliani; Editing by Denny Thomas)

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