Australian shares rise, led by mining sector gains amid optimistic forecasts for iron ore demand. Major miners like Rio Tinto and BHP showcase significant growth.
The recent rain on the eastern seaboard and central-west NSW has secured enough moisture for winter crops to be planted and a surge in demand for Nufarm’s products following high rainfall in the East Coast post-Christmas.
Equities closed flat overnight amid cautious trading ahead of the latest inflation reading as well as the start of the first-quarter earnings season later this week.
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