Australia: Shares inch higher on gold, energy stocks; Woolworths caps gains

[BENGALURU] Australian shares rose on Thursday, helped by energy and gold stocks that tracked higher prices of underlying commodities, although gains were capped by a disappointing earnings report from supermarket giant Woolworths .

The S&P/ASX 200 index rose 0.15 per cent to 7,075.6 by 0029 GMT. The index closed 0.4 per cent higher on Wednesday.

Shares of Ansell were among the top gainers on the benchmark for the second day in a row, rising nearly 5 per cent. The medical devices maker projected strong sales growth for the half year and full year on Wednesday.

The top percentage loser was Woolworths Group, down 3.4 per cent, as the company signalled an end to a pandemic-powered sales boost it had enjoyed last year and said its current quarter was trading flat.

Gold stocks rose 2 per cent, as bullion prices jumped overnight after the US Federal Reserve kept interest rates unchanged Resolute Mining was among the top gainers on the sub-index. The miner reaffirmed its 2021 guidance despite posting lower gold production on-quarter.

The energy index rose 0.74 per cent, tracking Wednesday's rise in oil prices. Viva Energy Group led the gains on the index for a third straight day with a 2.8 per cent rise.

The metals and mining index rose 0.6 per cent, helped by a more than 2 per cent rise in gold miner Newcrest Mining after it beat production estimates for the quarter.

However, Fortescue Metals Group was a laggard with a near 2 per cent drop after it reported flat third-quarter iron ore shipments.

In other markets, S&P 500 E-minis futures were up 15 points, or 0.36 per cent.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.11 per cent to 12,660.6.

The top percentage gainers were Z Energy, up 1.97 per cent, followed by A2 Milk Company, gaining 1.86 per cent.

REUTERS