Australia stocks rise, as retailers, miners gain

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Australia stocks rise, as retailers, miners gain
LOS ANGELES (MarketWatch) -- Australian stocks rose in early Wednesday trading, joining overnight gains in U.S. and European markets, with the benchmark S&P/ASX 200 rising 0.9% to 4,039.20. In the key mining sector, shares of Alumina Ltd. were up 1.4%, while extended gains for gold in the New York trading session helped boost Newcrest Mining Ltd. by 3.3%. But the larger miners either fell or underperformed the broader market, with BHP Billiton Ltd. up 0.4%, Rio Tinto Ltd. up 0.8%, but Fortescue Metals Group Ltd. falling 1.6%. Retailers were generally stronger, as Myer Holdings Ltd. rose 3.5%, Harvey Norman Holdings Ltd. added 1%, David Jones Ltd. improved by 1.8%, and shopping-center operator Westfield Group Australia was up 3.2%.