(Updates to close)
Feb 13 Australian shares extended gains to a
fifth straight session on Monday as copper and iron ore prices
drove miners higher.
The S&P/ASX 200 index ended 0.7 percent, or 40.09
points, higher at 5,760.7.
Miners BHP Billiton, Rio Tinto and
Fortescue Metals gained between 2.2 percent and 6.3
Fortescue Metals was the biggest gainer on the benchmark and
recorded its highest close since in nearly six years.
Expectations of strong demand for building materials drove
steel prices higher, steering iron ore futures in China to three
year highs on Monday.
London copper extended gains to hit its highest in 20 months
on supply worries after shipments were shut off from the world's
two biggest copper mines.
On the other hand, Bendigo and Adelaide Bank shed 5
percent as it posted bleak half yearly results earlier in the
day. It was the biggest loser in the financial
index, restricting its gain to 0.33 percent.
The biggest loser on the benchmark index was Domino's Pizza
Enterprises which lost 4.8 percent. Dominos, which is
set to report its half year results on Wednesday, says it has
found no evidence of a link between franchisee profitability and
breaches of employment obligations, while adding that it is
investigating the allegation.
New Zealand's benchmark S&P/NZX 50 index closed 0.44
percent, or 31.07 points, higher at 7,135.5.
Fletcher Building and A2 Milk were the
biggest gainers on the index, each gaining over 2.3 percent.
Contact Energy followed, adding 1.8 percent as it
posted a 12.3 percent rise in underlying half-year profit.
(Reporting by Susan Mathew in Bengaluru; Editing by Simon