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Australian shares inch higher on gains in banks and miners
Australian shares rose modestly on Tuesday, underpinned by gains in index heavyweight banks and miners, as declining oil prices brought investors back to risk assets. The S&P/ASX 200 index climbed 0.3% to 8,759.60 by 0014 GMT, after closing little changed on Monday. Oil prices fell below $100 a barrel overnight on hopes for a diplomatic breakthrough between Iran and the United States and a partial recovery in shipments from top exporter Saudi Arabia. That helped yields on long-term Australian government bonds retreat, in tandem with long-dated US Treasury yields overnight. However, markets...
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