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Australia shares reverse early losses to nudge higher, miners buoy
June 16, 2014 / 6:25 AM / 3 years ago

Australia shares reverse early losses to nudge higher, miners buoy

(Updates to close)

SYDNEY, June 16 (Reuters) - Australian shares added 0.1 percent on Monday, nudging away from 3-1/2 week lows as the mining sector reversed earlier losses to edge higher, although investors were still cautious as the unrest in Iraq continued.

The S&P/ASX 200 index added 7.3 percent to 5,412.3 at the close of trade. The benchmark fell 0.4 percent on Friday, and was down 1.1 percent last week, its third consecutive week of losses.

Elsewhere, Australia’s unemployment rate is likely to remain relatively high well into 2015, a top central banker said on Monday, helping to keep a lid on wages and inflation.

New Zealand’s benchmark NZX 50 index added 0.2 percent, or 8.3 points to 5,178.8. (Reporting by Thuy Ong; Editing by Richard Pullin)

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