Reuters: Hot Stocks: Australia shares up 0.3 pct; Fortescue gains

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Australia shares up 0.3 pct; Fortescue gains Dec 27th 2012, 05:16 Tweet Share this Email Print Thu Dec 27, 2012 12:16am EST MELBOURNE, Dec 27 (Reuters) - Australian shares rose 0.3 percent on Thursday, following a two-day break from trade, with volumes light as final efforts to avert or at least postpone a U.S. "fiscal cliff" get underway. The benchmark S&P/ASX 200 index rose 13 points to 4,648.0, after rising 0.3 percent in a short session on Monday. New Zealand's benchmark NZX 50 index rose 0.2 percent to 4,065.5. Fortescue Metals Group rose 4.1 percent after announcing it will develop its Kings deposit to complete an iron ore expansion to 155 million tonnes a year, which had been put on hold in September amid a cash crunch. (Reporting by Miranda Maxwell; Editing by Eric Meijer) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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