Australia: Shares flat as strong miners temper losses in healthcare
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[BENGALURU] Australian shares were flat on Monday, as heavy losses among healthcare firms, consumers and banks were partially offset by gains in energy and miners, with Stanmore Resources soaring 24 per cent on deal to buy BHP Group's stake in its metallurgical coal unit.
The S&P/ASX 200 index was flat at 7,456.7, as at 0023 GMT.
Heavyweight mining sector advanced 1.7 per cent, with global miners BHP Group and Rio Tinto climbing 1.8 per cent and 0.9 per cent, respectively.
Shares of Stanmore Resources notched their best intraday session since August 2016 after the coal miner agreed to buy BHP Group's 80 per cent stake in the metallurgical join venture, BHP Mitsui Coal, for up to US$1.35 billion.
Energy firms added nearly 2 per cent, marking their best session in two weeks, with heavyweights Woodside Petroleum and Santos gaining 2.7 per cent each, as oil prices gained on renewed supply concerns.
Among losers, healthcare firms gave up a percent and marked their worst day in three weeks, with heavyweights CSL and ASX-listed shares of Resmed Inc losing 1 per cent and 2.4 per cent, respectively.
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Australia is set to begin administering booster shots of Pfizer's Covid-19 vaccine from Monday as virus restrictions in its largest city, Sydney, eased.
Consumers were also among the top drags on the benchmark, with gambling machine maker Aristocrat Leisure the top loser at 4.4 per cent after its buyout target, UK's Playtech, received a takeover bid from its second-biggest shareholder, Gopher Investments.
Retail conglomerate Wesfarmers declined as much as 1.1 per cent after the company inked its US$565 million buyout deal with Australian Pharmaceutical Industries, while API shares advanced 3 per cent.
Among banks, Australia and New Zealand Banking Group was the top loser, declining nearly 3 per cent and marking its worst in more than five weeks.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index edged higher to 13,086.77, its highest in nearly two weeks.
REUTERS
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