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Australia shares end flat as materials, energy stocks weigh; NZ down


[BENGALURU] Australian shares ended flat on Thursday as gains in the financial sector were offset by a fall in miners and energy stocks.

The S&P/ASX 200 index fell 0.02 per cent or 1.2 points to close at 6,014.6. The benchmark was in the red for its third consecutive session.

The materials and mining index fell 0.5 per cent with miner South32 slipping 2.6 per cent on weak base metal prices.

Shanghai base metals futures were trading lower ahead of China's economic growth data, which is expected to have slowed in the fourth quarter.

Bucking the trend in the materials sector, BHP Billiton Ltd firmed 0.13 per cent after reporting a 3 per cent rise in iron ore production in the second quarter.

The energy index fell 1.1 per cent with Whitehaven Coal Ltd plunging 6.2 per cent to a near one-month low.

Whitehaven reduced its full-year guidance for saleable coal output on Thursday after a decline in production from one of its main mines in the December quarter.

Meanwhile, financial stocks gained 0.2 per cent, taking cues from their US counterparts, which rose 0.8 per cent on Wednesday in anticipation of a stronger earnings season.

Westpac Banking Corp added more than 1 per cent in the session, while Australia and New Zealand Banking Group Ltd gained 0.6 per cent.

ANZ said on Thursday it has reached a settlement with Australia's corporate regulator over suspected third party fraud and had agreed to pay a A$5 million (S$5.3 million) fine.

Department store operator Myer Holdings Ltd fell 1.5 per cent after it said it was overhauling its management following a slump in sales and criticism from its biggest shareholder, billionaire investor Solomon Lew.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index wiped off gains from earlier in the session to fall 0.3 per cent, or 25 points, to finish at 8,272.67.

Healthcare stocks dragged the index lower with Ryman Healthcare falling 3.5 per cent to its lowest in more than four weeks.

Fletcher Building Ltd dipped 1.7 per cent, while communications provider Spark New Zealand Ltd fell 1.2 per cent.


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