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Evening Update - Thursday 9 July, 2015

The rollercoaster ride continued today, with the Aussie market recovering around 100 points from the session lows into the close. Gains in the materials space, telcos and the gold sub-sector were balance against minor losses in consumer stocks, financials, I.T. and property trusts. The big miners posted gains, despite a 10% fall in the iron ore price overnight. Certainly a strong rally today in iron futures provided a boost, seeing BHP Billiton (BHP) add 1.8%, Rio Tinto (RIO) put on 1.7% and Fortescue Metals (FMG) surge 6.6%. Other top performers included Western Areas (WSA), which put on 6.7%, whilst AWE Limited (AWE) added 5.6%. On the day the ASX 200 put on one-and-a-half points, settling at 5471 - off a low of 5384.