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Fortescue

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News

Australian shares gain for third straight week on miners, gold boost

* Miners, gold stocks lead gains in benchmark index * RBA flags slower economic growth * Energy, technology shares top losers on ASX 200 (Updates to close) By Archishma Iyer Aug 5 (Reuters) - Australian shares ended higher on Friday and clocked their third straight weekly gain, as mining and gold stocks helped offset investor anxiety over a drawn-out downturn following the central bank's warning on inflation.
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Australian shares rise on mining, gold boost; NZ jumps

July 28 (Reuters) - Australian shares rose on Thursday, lifted by miners and gold stocks, while the U.S Federal Reserve delivered an expected rate hike and eased fears about the pace of future increases. The S&P/ASX 200 index .AXJO added 0.8% by 0025 GMT. The benchmark had ended 0.23% higher on Wednesday. Fed Chair Jerome Powell pushed back on recession fears in the United States, suggesting that the economy is softening, and raised rates by an expected three-quarters making it the fastest tight
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Australian iron ore miners cautious on China's plan to centralise buying

By Praveen Menon and Siyi Liu SYDNEY/BEIJING, July 21 (Reuters) - China's plan to centralise iron ore purchases has prompted questions whether the move could hit the bottomlines of global mining giants, such as Australia's Rio Tinto RIO.AX and BHP Group BHP.AX . China, exposed to international prices of the steelmaking raw material as it must import nearly 80% of its annual consumption of about 1.2 billion tonnes, launched a new state-backed resources company on Tuesday.
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Australian shares rise on miners, energy uplift; NZ climbs

July 8 (Reuters) - Australian shares rose on Friday, lifted by mining stocks as iron ore prices in China climbed despite fresh COVID-19 curbs in Asia's largest economy. The S&P/ASX 200 index .AXJO rose about 0.8% to 6,704, after adding 0.8% on Thursday. For the week so far, it is up 2.5%. Earlier this week, minutes from the U.S. Federal Reserve's June meeting showed that while the central bank was keen to get prices under control, it also saw the risk of hikes having a "larger-than-anticipated"
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Australian shares unchanged ahead of cenbank expected 50 bps rate hike

July 5 (Reuters) - Australian shares drifted within a tight range on Tuesday as investors took a cautious stance ahead of a Reserve Bank of Australia (RBA) meeting where investors are widely expecting a rise in the key cash rate by half a percentage point. The S&P/ASX 200 index .AXJO was up about nine points at 6,622.00 by 0050 GMT. The benchmark had gained 1.1% on Monday.
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