Big miners lift share market

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The Australian share market has closed slightly higher after the big miners lifted the overall index.

Patersons broker Tim Cruise said the big miners drove the gains while banks were mixed.

“It’s been a pretty dead day,” Mr Cruise said.

“Rio Tinto recovered more than one per cent and that helped the market’s cause along with gains by BHP Billiton.”

BHP Billiton was up 10 cents at $34.79, Rio Tinto gained 75 cents to $61.50 but Fortescue Metals was down 4.0 cents at $3.62, according to preliminary figures.

Two of the major banks were higher, with Commonwealth Bank up 23 cents at $76.65, National Australia Bank was seven cents higher at $33.11 but ANZ fell six cents to $31.32 and Westpac was down 26 cents at $32.21.

Telstra was down one cent at $5.41.

Brickworks was up five cents at $13.55 after the building products maker achieved 21 per cent profit growth.

The market initially received a boost from a strong session on Wall Street overnight but it is also under pressure from a weak Australian dollar.

KEY FACTS

* At the close on Thursday, the benchmark S&P/ASX200 index was 6.4 points, or 0.12 per cent, higher at 5,382.2.

* The broader All Ordinaries index was up 6.5 points, or 0.12 per cent, at 5,382.4, according to preliminary figures.

* The December share price index futures contract was seven points lower at 5,372, with 22,941 contracts traded.

* National turnover was 1.5 billion securities worth $4 billion.