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ASX to rise; iron ore drops 6 8pc

ASX closes 0.7pc higher; City Chic shares at record Save Share Vesna Poljak The S&P/ASX 200 Index closed at 6,643.1 points up 43.5 points or 0.66 per cent on Wednesday. Mesoblast rallied 9 per cent to $2.37 on no apparent news, Smartgroup almost 8 per cent to $6.78 following an earnings upgrade, and GUD more than 5 per cent to $12.41. Cooper Energy fell 4.1 per cent to 35¢. BHP Group fell 1 per cent to $42.45, Rio Tinto was down 0.49 per cent to $114.85 and Fortescue Metals Group lost 1¢ to $23.47. Westpac was flat at $19.56, Commonwealth Bank rose 0.9 per cent to $83.18, National Australia Bank rose 0.2 per cent to $22.98 and ANZ Banking Group added 0.8 per cent to $23.10.

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