Rio Tinto Limited

The Australian sharemarket ended the four consecutive day losing streak and closed higher on Friday in quiet trading condition. The market opened stronger on the good lead from Wall Street and made sustained gains, helped by the Chinese industrial production data suggesting demand for Australian resources will remain strong. At the close, the benchmark S&P/ASX 200 index rose 28.5 points, or 0.62 per cent, to 4635.20 points, while the broader All Ordinaries index also advanced 28.5 at 4651.40 points. For the week, the market closed down 1.4 percent.

Australian market Monday ended lower in a thin trade led by resources stocks, as commodities prices dropped on a sharp rise in US dollar. At the close, the benchmark S&P/ASX200 index fell 25.7 points, or 0.6 per cent, at 4676.5, while the broader All Ordinaries lost 26 points, or 0.6 per cent, to 4695.2.

US stocks soared on Friday after the Labor Department data showed that job cuts fell sharply in November. The news fuelled the expectations that the US Federal Reserve might consider increasing interest rates.

US stocks closed higher overnight as Dubai World said it was in discussions with banks to restructure US$26 billion in debt and the talks were proceeding on a constructive basis. Global markets strongly rebounded yesterday as investors realised that Dubai's trouble might be a regional problem.

Overnight US stocks ended at a fresh 13-month high ahead of the Thanksgiving holiday, helped by a series of upbeat economic data. A report showed initial claims for US jobless insurance benefits plunged to their lowest levels since September last year. US incomes rose 0.2 per cent and consumer spending jumped 0.7 per cent in October. New home sales rose 6.2 per cent unexpectedly.

US equities fell for a third straight day on Friday as Dell's disappointing earnings result dragged the US stocks lower. Energy and materials companies were weighed down after European Central Bank president Jean-Claude Trichet indicated that supportive stimulus measures must soon be unwound, prompting traders to buy US dollar.

Murchison Metals Limited (ASX:MMX)(PINK:MUMTF) is pleased to announce that a study update has been released by Crosslands Resources Limited (Crosslands). The update underlines Murchison's growing confidence in Jack Hills' potential as a large scale, multidecade project yielding substantial cash flows and economic value.

Victory West Moly Ltd (ASX:VWM) is pleased to announce the discovery of a significant new molybdenum anomaly at PT Promistis, only 10km from the Company's Anomaly B Molybdenum Prospect, within the Malala Molybdenum Project area, Sulawesi, Indonesia.

Atlas Iron Limited (ASX:AGO) is pleased to announce that it has further strengthened its Board with the appointment of former Rio Tinto senior iron ore executive Dr David Smith as an independent non-executive Director.

Emerging lithium producer, Galaxy Resources Limited (ASX:GXY)(PINK:GALXF), today announced the signing of a Strategic Lithium Alliance Agreement (Alliance) with General Mining Corporation Limited (GMM) for the exploration of lithium in Mongolia and Kazakhstan.