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Australian stocks up at opening

Xinhua, May 26, 2015 Adjust font size:

The overnight jump in iron ore price rallied the miners pushing the Australian markets slightly higher at the opening.

ASX200/S&P index was climbed 0.3 percent to 5,738.7 points, matched by the broader All Ordinaries, up 0.31 percent to 5,737.9 points.

Utilities gained 1.59 percent as a sector after Australian Gas and Light (AGL) flagged 781.9 million U.S. dollars of asset divestment.

Rio Tinto rallied 0.26 percent, followed by BHP Billiton lifting 0.54 percent after the iron ore price gained 2 percent in overnight trade. Endi