Australia: Shares gain on boost from healthcare, New Zealand retreats

[BENGALURU] Australian shares rose on Wednesday, buoyed by strong gains in healthcare stocks after the country's biggest biotech firm reported a 17 per cent jump in annual earnings, while a further slowdown in domestic coronavirus cases also lifted sentiment.

The S&P/ASX 200 index gained 0.4 per cent by 0041 GMT. The benchmark advanced 0.8 per cent on Tuesday.

CSL's 2020 results were boosted by higher sales of its immunoglobulin drugs Privigen and Hizentra, which offset lower plasma collections, as movement curbs due to the virus outbreak restricted people from donating blood.

The company is also in talks with AstraZeneca to locally manufacture the British drugmaker's potential Covid-19 vaccine.

Healthcare stocks jumped to their highest in four months, sparked by the gains in CSL which jumped over 4 per cent.

Adding to the positive note, Australia's second most populous state recorded 12 Covid-19 deaths, down from 17 a day earlier, signalling of a further stabilisation in new cases.

Technology stocks rose 2.1 per cent led by WiseTech Global Ltd, up 20.57 per cent, followed by Afterpay Ltd, which gained 1.91 per cent.

The country's no.4 lender by market cap, Australia and New Zealand Banking Group, jumped over 2 per cent after it said it would pay an interim dividend.

Bucking the mood, gold stocks fell 1.16 per cent led by Resolute Mining, down 8.18 per cent, followed by AngloGold Ashanti, losing 4.76 per cent.

Saracen Mineral Holdings dropped 1 per cent after the gold miner said it will not pay an annual dividend.

In other news, Crown Resorts lost more than 1.5 per cent as the country's biggest casino operator posted a plunge in annual profit and scrapped its final dividend.

As of 0046 GMT, New Zealand's benchmark fell 0.6 per cent, after touching a six-month high in the previous session, pulled lower by dairy and real estate stocks.

A2 Milk Co was set for its worst session since July 16 as the dairy producer forecast a slightly lower earnings margin for fiscal 2021, while country's largest construction firm Fletcher Building shed nearly 1.5 per cent after reporting an annual loss.

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