Australia: Shares inch up, Iron Ore Miners Support

  • Monday, April 8, 2013
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  • Keywords:iron ore
[Fellow]Australian shares inched up 0.1 per cent as some g
[Ferro-alloys.com]SYDNEY - Australian shares inched up 0.1 per cent as some global miners posted modest gains, although buying interest was sparse after a weak US jobs report on Friday raised concerns that the recovery in the world's largest economy may be losing steam.
 
BHP Billiton Ltd and Iluka Resources Ltd climbed 1 per cent and 1.1 per cent respectively. Rio Tinto Ltd bucked the trend, falling 0.9 per cent.
 
The miners were also likely helped by expectations that no.1 importer China's steel demand will pick up pace in the second quarter.
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