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Shares close 88.5pts higher

The Australian sharemarket ended the week strongly, with gains on the back of a rally in iron ore prices from decade lows.

Mt Gibson slashes 67 jobs in March qtr

Mount Gibson Iron has cut 20 per cent of its staff in the past quarter as it focuses on reducing costs and preserving cash to combat weak iron ore prices.

Redefining the budget script

Like ships passing in the night, Tony Abbott and Joe Hockey haven't seen a lot of each other recently.

Well failure dents Paladin production

Production has declined at uranium player Paladin Energy's biggest mine after a well failed, but the company is upbeat about the prospects of exports to Japan and India.

Macmahon to shed 40 jobs, alter rosters

Loss making mining services contractor Macmahon Holdings will cut another 40 staff and alter its corporate rosters to cut costs.

Collier downplays extra cuts

The state education minister has denied the opposition's claims classrooms will suffer as a result of job cuts at public schools.

Shares open 60pts higher

The Australian share market has opened higher, following gain on Wall Street overnight.

$A nears 78 US cent on weak US data

The Australian dollar is higher after the release of some disappointing US economic data.

Gold up from three-week low as $US falls

Gold rose from a three-week low on Thursday, following its biggest drop in over a month on Wednesday, as the dollar retreated on weaker-than-expected US economic data.

Nasdaq closes at new record

The Nasdaq exchange has smashed its 15-year-old record, breaking through the old mark set at the peak of the dot-com boom in 2000.

Oil surges as Saudi resumes Yemen strikes

Global oil prices have advanced as the Saudi Arabia-led coalition renews airstrikes in Yemen, stoking new supply concerns about the crude-rich Middle East.

Shares close 7.3pts higher

The Australian share market has closed higher as gains among the big miners offset losses in the financial sector.

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Exporters

LabelValue
Rio Tinto$26.71bn
BHP Billiton Iron Ore$24.30bn
North West Shelf Venture$19.62bn
Fortescue Metals Group$12.48bn
Woodside Petroleum$6.09bn
Others$81.20bn
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