Reuters: Hot Stocks: Australia shares at highest close since May 2011

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Australia shares at highest close since May 2011 Jan 23rd 2013, 05:17 Tweet Share this Email Print Related Topics Basic Materials » Energy » Wed Jan 23, 2013 12:17am EST (Updates to market close) MELBOURNE, Jan 23 (Reuters) - Australian shares rose 0.2 percent on Wednesday, enough to secure the highest close in almost 21 months as miner BHP Billiton gained after reporting a rise in quarterly iron ore production. The market barely flinched as data showed Australian consumer price inflation was unexpectedly benign last quarter due to falls in food, electronics and drugs. The local dollar eased slightly as the data slightly improved chances for an interest rate cut next month. Australia's benchmark S&P/ASX 200 index rose 9 points to 4,787.8, according to the latest data, the best since May 2 2011. New Zealand's NZX 50 index rose less than a point to 4,187.7. Top miner BHP rose 1.3 percent to A$37.06 after it reported a 3 percent rise in iron ore production in the December quarter. (Reporting by Miranda Maxwell; Editing by Simon Cameron-Moore) Related Quotes and News Company Price Related News 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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