By Shruti Sonal
July 7 (Reuters) - Australian shares climbed on Tuesday ahead of the central bank meeting, as a survey showing a resurgent U.S. services industry and hopes of a rebound in China's economy lifted investor sentiment.
The Reserve Bank of Australia is expected to keep the cash rate at 0.25% and make no changes to policy, but investors will watch for comments on the economic impact from a spike in coronavirus cases. sentiment prior to the meeting were a survey showing unexpected growth in the U.S. services sector last month and signs that China's economy was recovering. however, remained concerned about the spike in COVID-19 cases in some states of the United States that has hampered efforts to restart the economy. S&P/ASX 200 index .AXJO rose 0.9% to 6,071.3 in early trade, bouncing back from Monday's losses.
Strong commodity prices lifted the mining index .AXMM and gold stocks .AXGD by more than 2% each. IRONORE/ GOL/ MET/L
Gold explorer St Barbara Ltd SBM.AX climbed nearly 8% and was the top percentage gainer on the benchmark, after reporting a jump in fourth-quarter production. miner Orocobre Ltd ORE.AX and iron ore miner Fortescue Metals Group Ltd FMG.AX were among the other biggest gainers on the benchmark.
The tech sub-index .AXIJ climbed 1.7% to a record high and was on track for a sixth straight session of gains.
Buy-now-pay-later (BNPL) firm Sezzle Inc 's Australian shares SZL.AX jumped 22.4% to a record high after reporting strong quarterly merchant sales. APT.AX , another BNPL heavyweight, said it would raise about A$800 million ($559 million) in a bid to capitalize on a surge in online shopping amid lockdowns. Its shares remained on a trading halt. .AXFJ hit their highest level in nearly a month. Commonwealth Bank of Australia CBA.AX climbed 1.4% after Morgan Stanley (NYSE:MS) said it expected the lender to deliver solid second-half results. Zealand's benchmark S&P/NZX 50 index .NZ50 climbed 0.9% to its highest level in more than four months.
($1 = 1.4300 Australian dollars)