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Miners drag Australia shares lower as iron ore prices lag
Australian shares fell on Wednesday, dragged down by losses in heavyweight miners BHP Group and Rio Tinto due to softer iron prices, though gains in gold stocks limited the fall. The S&P/ASX 200 index .AXJO was down 0.47% at 7,402.2 points, as of 0037 GMT. The benchmark closed 0.16% higher on Tuesday. The mining index .AXMM fell 0.75%. Heavyweights BHP Group BHP.AX and Rio Tinto RIO.AX lost 2.3% and 0.8%, respectively, as Chinese iron ore futures DCIOcv1 on the Dalian Commodity Exchange fell 0.6%. Financial stocks .AXFJ slipped 0.75%, with The 'Big Four' banks dropping between 0.8% and 1%. Sponsored Links The buzz ... (full story)