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ASX breaks losing streak on mining and energy stock strength

The Sydney Morning Herald – William Mclnnes

The Australian sharemarket broke a four day losing streak, rallying from an opening loss to close higher on Thursday. The S&P/ASX 200 index rose 19.5 points, or 0.3 per cent, to 6215.4, supported by a second day of positive performance from the major resource stocks. Australian shares were expected to open lower on Thursday morning with ASX futures down 11 points and the Aussie dollar sliding. The Trump Administration’s stance towards Chinese investment remains unclear and that sent all three benchmark US indices lower, led by declines in large tech stocks. BHP Billiton and Rio Tinto’s US listed stocks were mixed overnight, with BHP rising 1 per cent while Rio Tinto fell 0.3 per cent. READ ARTICLE IN FULL