Referenced Stocks

Australian Stock Market Report – Afternoon 10/12/2012

By International Business Times,  October 12, 2012, 03:28:31 AM EDT

AFTERNOON REPORT
(5pm AEDT)

Local stocks managed a slight win today, with mining stocks leading the gains. The All Ordinaries Index (XAO) added 5pts or 0.1pct by close to 4510.1, to finish the trading week relatively flat (XAO closed at 4513 last week). However local stocks remain near 14 month highs.

A rise in commodity prices helped mining stocks. After being closed all of last week for Golden Week in China, iron ore has had an impressive rebound, finishing around US$116 a tonne. Shares in Rio Tinto ( RIO ) today rose 1.8pct to $56.40 while Fortescue Metals Group (FMG) continued its recovery from lows of $2.99 back in mid-September, finishing higher by 2.7pct to $3.85. Index leader BHP Billiton ( BHP ) added 0.9pct to $33.54.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BHP, RIO



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