Rio Tinto announces first half underlying earnings of $5.2 billion

Rio Tinto has announce a solid financial results driven by record operational performance of iron ore division. Net earnings for the first half year was US$5.9 billion a decline of 22 percent. The result was better than expected and share price in RIO TINTO london has soar 2.35% to 3200.50 pounds or 73.50 points higher.In the DOW JONES Rio Tinto is up 3.03 oercent to $50.29.

The announcement was made in Sydney after the market closed.RIO TINTO Australia hasn’t reacted to the news yet. Its share price has been in decline all year from the high price of  AUD$74.35. Its lower price was recorded recently of around AUD$50.26. There is a strong possibility that the stock could recover a bit and reach the 59 to 60 dollar mark.

 

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