Deals
BHP, Rio Shares Advance After Gillard Ousts Rudd
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BHP Billiton Ltd. and Rio Tinto Group led gains in Australian mining companies as Julia Gillard said she will start negotiations on the government’s proposed profit tax after ousting Kevin Rudd as prime minister.
BHP, the world’s biggest mining company, climbed 1.3 percent to A$39.65 at the 4:10 p.m. close of trade in Sydney. Rio gained 1.7 percent, Fortescue Metals Group Ltd. rose 2.5 percent and Macarthur Coal Ltd. advanced 6.4 percent.