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Australia shares edge up, aided by Aristocrat Leisure; NZ gains 0.4 pct

Published 24/05/2018, 04:46 pm
Updated 24/05/2018, 04:50 pm
© Reuters.  Australia shares edge up, aided by Aristocrat Leisure; NZ gains 0.4 pct

* Aussie shares snap five-day losing streak

* Financials extend losses to sixth session

* NZ index climbs on a2 Milk advance (Updates to close)

May 24 (Reuters) - Australian shares snapped a five-day losing streak on Thursday, aided by gains for gambling equipment marker Aristocrat Leisure that helped outweigh a continued fall for financial stocks.

The S&P/ASX 200 index .AXJO was up 0.1 percent, or 4.60 points, to 6,037.1 at the close of trade. The benchmark declined 0.2 percent on Wednesday.

Shares of Aristocrat Leisure Ltd ALL.AX climbed 8 percent to a record after it reported half-year net profit rose 2.8 percent, with digital revenue more than tripling for the period. estate stocks also gained, with Scentre Group Ltd SCG.AX climbing 1.4 percent, while Lend Lease Group LLC.AX rose 2.5 percent.

Battered by the latest round of an embarrassing inquiry into misconduct in the industry, banks extended losses into a sixth straight session on Thursday. The financial index .AXFJ fell 0.5 percent to a four week low.

National Australia Bank Ltd NAB.AX declined 1.3 percent, while Commonwealth Bank of Australia CBA.AX dropped 0.2 percent to its lowest since Sept. 2016.

Materials also fell, underpinned by lower iron ore and copper prices. IRONORE/ MET/L

Rio Tinto (LON:RIO) Ltd RIO.AX was down 1 percent, while Fortescue Metals Group Ltd FMG.AX slid 0.7 percent.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.4 percent or 37.54 points to finish the session at 8,590.77.

Dairy firm a2 Milk Company Ltd ATM.NZ rose 4.1 percent, accounting for most of the benchmark's gains.

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