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Global stocks bounce; Rio's iron ore soars

Squawk Box Live watched rebounding global markets and reaction to Rio Tinto's report on iron ore shipments.

The mining giant clocked a 17 percent increase in third quarter iron ore shipments a surprising result in light of ongoing concerns over Chinese demand. Rio Tinto added it was on track to meet full year targets of 340 million tonnes.

Global stocks were also bouncing back in early Friday trade, following a positive close on Wall Street that saw major indices close up near 1.5 percent.

Here's how the morning unfolded.

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