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Australia shares edge lower for a third session; NZ up

Published 21/02/2017, 05:44 pm
© Reuters.  Australia shares edge lower for a third session; NZ up
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Feb 21 (Reuters) - Australian shares declined marginally on Tuesday, their third straight down day, as gains in basic material stocks were outweighed by losses in other sectors due to disappointing earnings.

The S&P/ASX 200 index .AXJO closed down 0.07 percent, or 4.065 points, to 5,791.029

The basic material sector was driven higher by climbing copper and iron ore prices. Rio Tinto (LON:RIO) RIO.AX rose 2 percent while Fortescue Metals FMG.AX added 2.7 percent.

The world's largest miner by market capital, BHP Billiton (LON:BLT) BHP.AX declared a bigger-than-expected dividend and reported a near eight-fold rise in underlying net profit in half-year results announced after Tuesday's market close. of BHP, which fell the two previous days, rose 1 percent on Tuesday ahead of the financial results.

The energy sector was driven lower by slides in the share-prices for WorleyParsons WOR.AX , Oil Search OSH.AX and Duet Group DUE.AX .

WorleyParsons fell 7.8 percent, adding to losses on Monday after it reported a half-year statutory net loss of A$2.4 million.

Oil Search shed 2.1 percent after reporting a 70 percent slump in full-year core profit. Group shares dropped 1.8 percent.

Aconex Ltd ACX.AX shaved 6.2 percent after it posted a net loss of A$3.5 million for half year-ended Dec. 31, compared with profit of A$4.6 mln a year earlier. The stock was the second biggest loser on the benchmark.

New Zealand's benchmark S&P/NZX 50 index .NZ50 gained 0.23 percent, or 16.19 points to finish the session at 7,115.69.

Auckland International Airport AIA.NZ and Fletcher Building FBU.NZ both rose 1.5 percent.

Telecom company Spark New Zealand SPK.NZ FELL 0.6 percent while a2 milk company ATM.NZ lost 1.6 percent.

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