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Australia shares steady as rising miners duel falling financials; NZ lower

Tuesday, March 14, 2017 - 14:20

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[BENGALURU] Australian shares barely changed in lacklustre trade on Tuesday as gains for miners, pulled up by rising metal prices, were effectively cancelled out by falls in financial stocks.

Financial stocks were lower ahead of US Federal Reserve's two-day meeting, starting later on Tuesday, which markets believe will bring a hike in US interest rates.

The S&P/ASX 200 index was up 0.03 per cent, or 1.753 points, to 5,759.1 at the close of trade. The benchmark fell 0.32 per cent in the previous session.

Two of the 'Big 4' banks lost 0.7 per cent. However, Commonwealth Bank of Australia was 0.2 per cent higher while Australia and New Zealand Bank ended flat.

New Zealand's benchmark S&P/NZX 50 index fell 0.25 per cent or 17.7 points to finish the session at 7,177.09.

REUTERS

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