Reuters: Hot Stocks: Australia shares edge higher on banks and miners as RBA holds rates

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Australia shares edge higher on banks and miners as RBA holds rates Jun 4th 2013, 06:25 Tue Jun 4, 2013 2:25am EDT SYDNEY, June 4 (Reuters) - Australian shares finished 0.3 percent higher on Tuesday, ending a three-session run of losses as Wall Street gains overnight bolstered sentiment and firmer metals prices underpinned miners. The market lifted after Australia's central bank kept its cash rate at a record low of 2.75 percent on Tuesday, but kept the door wide open to further easing in part due to the still lofty level of the local currency. The S&P/ASX 200 index tacked on 12.5 points, after a volatile morning session, to finish at 4,900.8 according to the latest data. The benchmark fell 0.8 percent to its lowest close in four months on Monday. Blue chip miners edged higher after London copper climbed for a second session on Tuesday. BHP Billiton Ltd rose 0.5 percent while Rio Tinto Ltd and Iluka Resources Ltd both rose 2.5 percent. High-yielding banks reversed early losses to finish stronger. National Australia Bank jumped 1.1 percent while top lender Commonwealth Bank of Australia inched 0.3 percent higher. New Zealand's benchmark NZX 50 index lost 0.8 percent or 37.6 points to finish the session at 4,473.8. (Reporting by Thuy Ong; Editing by Eric Meijer)

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