SYDNEY, AAP – Big gains for the mining giants were not quite enough to raise a weaker Australian share market, which was weighed down by a US technology behemoth.

BHP and Fortescue Metals each gained three per cent and Rio Tinto rose two per cent on Thursday on higher iron ore prices.

However, Facebook owner Meta’s disappointing earnings in the US overnight cast negativity over much of global trade.

ASX technology shares fell five per cent.

The benchmark S&P/ASX200 index closed down 9.7 points, or 0.14 per cent, to 7078 points.


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The All Ordinaries index closed lower by 25 points, or 0.34 per cent, to 7374.6 points.

The Aussie dollar was buying 71.26 US cents at 1619 AEDT, lower from 71.37 US cents at Wednesday’s close.