🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Australia shares end flat as BHP, Woolworths drag; NZ slightly up

Published 07/09/2017, 05:05 pm
Updated 07/09/2017, 05:10 pm
© Reuters.  Australia shares end flat as BHP, Woolworths drag; NZ slightly up
AXJO
-
BHP
-
CSL
-
RIO
-
RIO
-
WOW
-

(Updates to close)

Sept 7 (Reuters) - Australia shares ended flat on Thursday, surrendering early gains on a positive lead from Wall Street, hurt by declines in BHP BHP.AX and Woolworths WOW.AX which traded ex-dividend.

The Australian benchmark index .AXJO , which also rose in early trading on receding tensions on the Korean peninsula, finished 0.17 points higher at 5,689.90.

The benchmark shed 0.3 percent on Wednesday.

The consumer staples sector was the worst performer as Woolworths shares slid 1.8 percent to their lowest in more than two months.

Earlier in the session, data showed retail sales were flat in July, upsetting expectations for a 0.3 percent increase after a solid 1.8 percent gain in sales in the June quarter. data for July was also disappointing with Australia's surplus on goods and services narrowing unexpectedly to A$460 million in July.

Healthcare shares too were among the top losers, with the biggest stock in the sector CSL Ltd CSL.AX among the top drags on the main index with its 1 percent fall.

Rio Tinto (LON:RIO) RIO.AX was the main attraction in an otherwise sluggish mining sector. Its shares rose as much as 1.4 percent to a six-month high after the world's second-biggest miner increased the estimate of coal reserves by 50 percent at its 80 percent owned Kestrel mine in Queensland. BHP's BHP.AX shares, which traded ex-dividend, fell 1.4 percent.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.18 percent to 7,804.26, supported by consumer and healthcare shares.

Building materials maker Fletcher Building Ltd FBU.NZ and medical devices maker Fisher & Paykel Healthcare FPH.NZ were the biggest advancers on the benchmark, rising 1.4 percent and 2.1 percent, respectively.

Shares of Air New Zealand AIR.NZ were the biggest drag on the index, down 2.5 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.