Mining stocks fuel share market gains

BHP Billiton shares closed 1. 4 per cent higher, shortly before the mining giant released its full-year results which revealed net profits rose 23 per cent to $US13. 8 billion ($14. 8 billion).

Iron ore and steel firm Arrium, formerly known as One Steel, surged 11. 9 per cent higher as the company confirmed its massive loss last year had been turned around to a $205 million profit.

Insurance Australia Group shares rose 0. 5 per cent, though, in response to a 59 per cent jump in full-year net profit.

Read more here: ABC


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