Reuters: Hot Stocks: Australian shares inch up 0.4 pct, await Cyprus deal

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Australian shares inch up 0.4 pct, await Cyprus deal Mar 24th 2013, 23:24 Tweet Share this Email Print Sun Mar 24, 2013 7:24pm EDT SYDNEY, March 25 (Reuters) - Australian shares rose 0.4 percent early on Monday, supported by bargain hunters after last week's fall and a recovery in iron ore prices, but Cyprus bailout talks weighed on sentiment. With Cyprus facing a Monday deadline to avert a collapse of its banking system, President Nicos Anastasiades is meeting with international lenders to try to craft a deal on a 10 billion euro ($13 billion) bailout after a first attempt collapsed last week. The S&P/ASX 200 index gained 20.5 points to 4,987.8 by 2316 GMT. The benchmark inched up 0.2 percent on Friday, but fell 3 percent for the week. New Zealand's benchmark NZX 50 index was nearly flat at 4,342.0. (Reporting by Maggie Lu Yueyang; Editing by Stephen Coates) 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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