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Australia shares end flat as basic materials weigh; NZ closes higher

Published 14/10/2016, 05:29 pm
© Reuters.  Australia shares end flat as basic materials weigh; NZ closes higher
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Oct 14 (Reuters) - Australian shares ended flat on Friday in lacklustre trade, dragged down by stocks of basic materials companies, while a rise in crude oil prices supported energy shares.

The S&P/ASX 200 index .AXJO was 0.03 percent lower at 5,434 at the close of trade. The index fell 0.6 percent on the week.

Large cap miners BHP Billiton (LON:BLT) Ltd BHP.AX lost 0.9 percent, while Rio Tinto (LON:RIO) RIO.AX ended 1 percent lower.

Oil major Woodside Petroleum Ltd WPL.AX closed up 0.2 percent, while Beach Energy Ltd BPT.AX ended nearly 2 percent higher.

Crude prices edged up on Friday, pushed by a tighter U.S. fuel market and as technical indicators attracted buying from financial players. O/R

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 0.19 percent higher at 7,133.26. The index lost 0.48 percent this week, extending losses for a second week.

Summerset Group Holdings SUM.NZ was the biggest gainer on the index, closing up 1.9 percent, followed by Air New Zealand Ltd AIR.NZ that finished 1.8 percent higher.

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