* Mining giant BHP hits record high
* Gold stocks set for best day in over a week
* Rio Tinto (LON:RIO) chairman to step down next year, shares rise
March 3 (Reuters) - Australian shares rose on Wednesday, with miners and gold stocks leading the gains, as investors remained upbeat on recovery hopes after data showed that the country's fourth-quarter gross domestic product (GDP) grew at a faster-than-expected pace.
The S&P/ASX 200 index .AXJO was up 0.6% at 6,803.20, as of 0043 GMT. The benchmark ended 0.4% lower on Tuesday.
Figures released by the Australian Bureau of Statistics on Wednesday showed that GDP grew 3.1% in the December quarter, in further evidence that the economy is roaring back from the lockdown-induced recession. in a Reuters poll had forecast a 2.5% rise following an upwardly revised 3.4% gain in the third quarter.
The numbers come at the heels of upbeat data on Monday that showed home prices surged at the fastest pace in almost two decades in February and job advertisements also skyrocketed. aiding sentiment, the Reserve Bank of Australia kept rates unchanged at its March meeting on Tuesday and committed to maintaining its "highly supportive monetary conditions" until its employment and inflation goals are met. gold stocks .AXGD gained up to 2.9%, set for their best day in more than a week, helped by higher bullion prices.
The mining sector .AXMM advanced nearly 3%, on track for its best session since Feb. 22.
Mining giant BHP Group BHP.AX climbed 4.5% to hit a record high, while peer Rio Tinto RIO.AX advanced 2.4%.
Rio Tinto said on Wednesday Simon Thompson will step down as chairman next year after deciding not to seek re-election as a non-executive director at the miner's 2022 annual general meeting. high-profile financial sector .AXFJ added as much as 0.5%. National Australia Bank NAB.AX , Australia and New Zealand Banking Group ANZ.AX and Commonwealth Bank of Australia CBA.AX each gained as much as 0.9%. Westpac WBC.AX inched 0.5% higher.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 slipped 0.4% to 12,296.07.
Top losers were Meridian Energy MEL.NZ losing more than 3%, and Napier Port Holdings NPH.NZ down 3.5%.