Author: 123jump.com Staff
123jump.com
Last Update: 10:40 AM EST February 14 2008

Australian stocks edged higher after earnings report from Rio Tinto and a rally in Asian markets. Rio Tinto jumped 4.5% after reporting 11% rise in operating earnings and 2% decline in net earings on 32% rise in sales in 2007 from 2006. The better than expected earnings were largesly acheived on higher prodcution of iron ore, copper, and other metals. The company spent $5 billion in capital expenditures.