Markets

Australia shares close flat, miners offset losses among banks

Published July 16, 2014 Updated July 16, 2014 07:04am

1 min

By Shoaib Ur Rehman

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SYDNEY: Australian shares added 0.1 percent on Wednesday, with gains in big miners underpinned by improving iron ore prices and a slight pick-up in Chinese GDP offsetting worries, though sentiment was dampened as Wall Street fell the day before.

The S&P/ASX 200 index added 7.6 points to 5,518.9 at the close of trade.

The benchmark finished flat on Tuesday.

Boart Longyear slumped 34.8 percent to a record low of A$0.088 after the company said it had engaged restructuring advisers in a long-running strategic review.

New Zealand's benchmark NZX 50 index finished flat at 5,114.2.

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