Financial Times FT.com

Rio shares rise despite ore warning

By Peter Smith in Sydney

Published: November 10 2008 02:19 | Last updated: November 10 2008 17:43

Rio Tinto shares rose strongly on Monday in spite of its weekend warning that a slowdown in demand from Chinese steel customers would lead to a 10 per cent drop in its forecast iron ore shipments from Western Australia’s Pilbara region.

Mining shares rose on the back of China’s $586bn fiscal stimulus plan (£374bn), although analysts were divided over its impact.

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