Australia: Shares flat as gains in miners cushion subdued financials

[BENGALURU] Australian shares were largely unchanged on Thursday, as gains in local miners on rising iron ore prices were offset by losses in financial stocks.

The S&P/ASX 200 index slipped 0.09 per cent to 7,392.6 by 0002 GMT.

Mining stocks rose about 1 per cent and were the biggest boost to the main index, after the benchmark iron ore futures jumped 5.8 per cent extending on a 10 per cent jump from the previous session.

Sector heavyweights BHP, Rio Tinto and Fortescue gained between 1 per cent and 2.8 per cent, with Foretscue touching its highest level since Sept 14.

Australia tech stocks rose 1.5 per cent despite a mixed Wall Street session overnight, with EML Payments rising over 16 per cent to track its best day since February, after Ireland's central bank allowed its unit to sign new customers and launch new programs.

Afterpay was also among top gainers on the sub-index, rising 3.2 per cent - tracking a 2.4 per cent jump in Square on Wednesday.

Bucking the trend, financials fell for a second consecutive session and were down by 0.6 per cent, with all of the "Big Four" banks in the red.

Shares of National Australia Bank was down about 1 per cent, even after the country's competition watchdog approved its acquisition of Citi's local consumer business.

New Zealand's benchmark S&P/NZX 50 index rose 0.8 per cent to 12,868.4, with the country's biggest company by market value, Fisher & Paykel, hitting a two-month high on upbeat results.

New Zealand also posted a monthly trade deficit for the month of October, a day after the country's central bank lifted interest rates for the second time in as many months amid rising inflationary pressures and easing coronavirus curbs.

REUTERS