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Australian stocks have picked up the pace rising with the All Ords rising 82.5 points or 1.6% to 5133.5.
Energy stocks led the way spurred on by () making a non-binding $11.7 billion takeover bid for fellow liquefied natural gas producer Oil Search ().
WPL was down 3% to $29.66 while OSH jumped 17.4% to $7.90.
() rose 5.25% to $4.41
Market Action here…
Chinalco Yunnan Copper () gained 26.7% to $0.019 after teaming with major shareholder Yunnan Copper Industry (Group) Co Ltd to acquire copper mining projects in the Democratic Republic of Congo.
A transaction could be announced within the next 4-6 weeks.
Given China's Yunnan Copper Industry's (YCI) presence in the DRC is significant CYU could be presented with a smaller scale processing and smelting operation that could generate cash flow generating returns for CYU.
() climbed 27.8% to $0.023 with more than 1.8 million shares traded and () rose 15% to $0.023.
Blue Chip Stocks
Major Miners
() up 2.1% to $24.70
(ASX:FMG) up 1.8% to $1.96
Newcrest () up 1.7% to $11.57
(ASX:RIO) up 2.2% to $50.22
Big 4 banks
ANZ Bank (ASX:ANZ) up 3.1% to $27.53
() up 2.6% to $74.17
() up 2% to $30.20
() up 2.4% to $30.52
Other banks financials and industrials
() up 2% to $5.72
() up 1.8% to $12.12
Bendigo and Adelaide Bank () up 1.8% to $10.37
() up 1.7% to $74.53
Suncorp () up 1.0% to $12.42
() up 1.4% to $5.68
Retailers
JB Hi-FI () up 2.1% to $18.50
() up 1% to $39.79
Woolworths () up 0.04% to $25.33
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