Australia shares extend gains, BHP jumps on strong production

Posted on October 22, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Oct 22 (Reuters) – Australian shares rose 0.3 percent on Tuesday morning, led by BHP Billiton after the global miner posted solid production results, while a rush of U.S. data in coming days kept investors focused on the implications for the Federal Reserve’s stimulus programme.

BHP Billiton gained 2.1 percent after it posted a 23 percent rise in quarterly iron ore output and raised its production forecast for the 2014 financial year.

Rival Rio Tinto Ltd rose 0.6 percent, while Fortescue Metals Group climbed 2.1 percent.

http://in.reuters.com/article/2013/10/22/markets-australia-stocks-idINL3N0IB4NK20131022