UBS is tipping underlying earnings of $US14.2 billion, which would be significantly up on last year’s figure of $6.3 billion for 2009.

Shares in Rio closed 0.3% up to $A88.68, after its shares in London and New York dropped 1.1% and 1.8% respectively in Wednesday trading.

The miner also extended its offer for Riversdale Mining earlier today by two weeks to March 4, as CSN Europe lifted its stake in Riversdale to 19.9%.

Riversdale shares closed 10c up to $15.95.

In other takeover news, nickel producer Independence Group launched a friendly $532 million takeover late yesterday for smaller base metals miner Jabiru Metals to create a company with an estimated market capitalisation of $1.5 billion.

Independence shareholders frowned on the news, sending the company’s shares down 8.8% or 68c to $7.01, while investors flocked to Jabiru, its shares soaring 27.8% or 18.5c to 85c.

After reporting its annual profit figures yesterday, OZ Minerals lost some ground, slipping 2.2% or 4c to $1.75.

Meanwhile, BHP Billiton finished just 2c higher to $46.76.

Overall, the S&P/ASX 200 added 0.2% or 9.6 points to 4914.4.

Despite being traded, there was no movement in the share prices of Fortescue Metals Group, MacArthur Coal, Gloucester Coal or Minara Resources,

Latin Resources jumped 14% or 3.5c to 28c on a magnetite acquisition in Peru, which may have also been behind the increase in shares of similarly named Latin Gold, which added 15% to 3c.

Platsearch jumped 36% or 4.5c to 17c on no news.

In other investment news, the Australian unemployment rate remained steady at 5% for January.