Australian shares ended a fraction higher on Wednesday, supported as global economic data calmed growth fears and BHP Billiton, the world's biggest mining company, forecast record iron ore production this year. BHP rose 0.8 percent to A$37 after its December production and upbeat 2012 outlook satisfied analyst expectations.
"The report has been well received and largely beat estimates with solid numbers in the three key businesses of iron ore, petroleum and base metals," said Stan Shamu, strategist at IG Markets. Rival Rio Tinto was up 1.4 percent at A$66.60 while Fortescue rallied 5.2 percent to A$5.05.
So far this year, BHP is up 7.5 percent and Rio up 10.5 percent, against a 4 percent rise in the broader market. On Wednesday, the benchmark S&P/ASX 200 index added 2.3 points to 4,217.9, according to the latest data. It rose 1.7 percent on Tuesday.
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