Australian shares edge up 0.55% by midday as miners rise and Brent slips below $US80

Australian shares moved modestly higher, with the ASX200 up 0.55% by midday. Brent crude fell below $US80 a barrel, its lowest level since March, pressuring energy stocks. Gold traded at $US4,343 an ounce and firmer copper prices helped lift BHP to a new intraday high. Markets are focused on the next day’s US Federal Reserve rate decision, which is expected to remain on hold, while the Australian dollar rose to 70.68 US cents.