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Australia shares edge up 0.1 pct, miners firm

Monday, 8 Oct 2012 | 7:19 PM ET

(Updates with opening levels)

MELBOURNE, Oct 9 (Reuters) - Australian shares eked out a 0.1 percent gain early on Tuesday, with support from higher iron ore prices countered by concerns about the global growth outlook after the IMF cut its economic forecasts for the second time since April.

The benchmark S&P/ASX 200 index

edged up 4.2 points to 4,486.1 at 2312 GMT. The benchmark fell 0.3 percent to 4,481.9 on Monday.

For 2012, the IMF now expects global output to grow just 3.3 percent, down from its July estimate of 3.5 percent, and China's economic growth is expected to weaken to 7.8 percent this year.

New Zealand's benchmark NZX 50 index

rose 1.7 points to 3,924.7.

(Reporting by Victoria Thieberger; Editing by John Mair)

((victoria.thieberger@thomsonreuters.com)(+61 3 9286 1421)(Reuters Messaging: victoria.thieberger.reuters.com@reuters.net))

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Keywords: MARKETS AUSTRALIA STOCKS/