Aussie mining stocks set for weekly gain as iron ore prices climb

Leo Lithium

19/05/2023 05:00

** Australian mining sub-index  .AXMM  up 1.2% so far this
week, set for its first weekly gain after four straight losses
    ** Sub-index up 0.2% for the day as Dalian iron ore futures
were on track for a weekly gain on prospects of further stimulus
for China's economy  IRONORE/ 
    ** Heavyweight miners BHP Group  BHP.AX , Fortescue Metals
Group  FMG.AX  and South32 Ltd  S32.AX  gain between 0.2% and 1%
    ** Leo Lithium  LLL.AX  is the biggest gainer in the
sub-index, adding as much as 8.2% to A$0.73
    ** AXMM up ~2% this year, as of last close, versus a 2.8%
rise in the benchmark index  .AXJO 

    

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))