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Australia shares end marginally lower; NZ up

Published 27/06/2017, 04:43 pm
© Reuters.  Australia shares end marginally lower; NZ up

(Updates to close)

June 27 (Reuters) - Australian shares trimmed early losses to end marginally lower on Tuesday, ending three sessions of gains.

Consumer staples and healthcare weighed on the index while gains on the financials sector cushioned overall losses.

The S&P/ASX 200 index .AXJO closed down 0.1 percent or 5.96 points to 5,714.20 at the close of trade. The index ended 0.1 percent higher on Monday.

"There's no real catalyst to move markets at the moment," said Chris Weston, an institutional dealer with IG Markets.

Blackmores Ltd BKL.AX fell 3.6 percent, dragging the consumer staples sector, after it said its Chief Executive and Managing Director Christine Holgate would move to Australia Post as CEO in September. Ltd MTS.AX dropped 3.5 percent while Australian Agricultural Company Ltd AAC.AX ended 1.6 percent lower.

Healthcare stocks were also in the red with biotherapeutics company CSL Ltd CSL.AX falling 1.4 percent and Regis Healthcare Ltd REG.AX shedding 2 percent to touch its lowest close in over nine months.

The gains on the financial and material sectors shored up the losses on the index.

Leading insurer QBE Insurance Group Ltd QBE.AX which fell 1.5 percent hitting over a six-month low earlier in the day, ended the session 1.3 percent higher.

Bank of Queensland Ltd BOQ.AX closed 1.9 percent higher while BT Investment Management Ltd BTT.AX rose 1 percent.

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 0.4 percent or 30.85 points to finish the session at 7,626.35.

Gains in materials were offset by the fall in utilities stocks.

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Comvita Ltd CVT.NZ was the top gainer on the index after it rose 6.7 percent to its highest close in over a month.

On the other hand, Scales Corporation Ltd SCL.NZ was the biggest loser on the benchmark after it dropped 3.5 percent to its lowest close since May 30.

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