Tiger Brokers

BUZZ-Australian miners gain on higher prices; BHP reports stable output for third quarter

Reuters
Apr 17
BUZZ-Australian miners gain on higher prices; BHP reports stable output for third quarter

** Australian miners .AXMM rise as much as 1.7% to 5267.1 points, their highest level since April 2

** World's largest listed miner BHP BHP.AX is up 1.5% after reporting production results for the third quarter

** Tony Sycamore, a market analyst with IG, says that the miner's results indicate iron ore output during the quarter remained stable at 61.8 million tonnes compared to a year ago

** Underlying iron ore prices also gain as focus shifts back to favourable fundamentals of firm near-term demand and lower supply IRONORE/

** Iron ore giant Rio Tinto RIO.AX gains 2.5%, while Fortescue FMG.AX up 0.6%

** Meanwhile, the Australian benchmark S&P/ASX 200 .AXJO is up 0.6% .AX

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10