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BUZZ-UK miners break downtrend on Australia rate cut

Reuters - UK Focus

** FTSE 350 Mining index looks to break out of 6-month downtrend after Reserve Bank of Australia cut rates to record low

** Weaker AUD benefits BHP Billiton (NYSE: BBL - news) and Rio Tinto (Xetra: 855018 - news) , both of which have cost bases in country

** FTSE 350 Mining index rises 3.5 pct, with mining cos dominating leader board on FTSE 100

** Breakout chart: http://link.reuters.com/ref93w

** Rallies in resources stocks within narrow downtrend before ECB QE

** BHP has rallied 24.4 pct in last 14 trading days, breaking above 50- and 100-day SMA in last 3 days

** Chart: http://link.reuters.com/tef93w

(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)