SYDNEY/WELLINGTON, July 14 (Reuters) - Australian shares edged higher on Thursday, buoyed by positive job data, while New Zealand's market extended recent gains, hovering close to record highs.
The S&P/ASX 200 index .AXJO rose 0.3 percent, or 18.17 points, to 5406.7 by 0312 GMT. The benchmark has gained 3.4 percent this week amid a global rebound in riskier assets, more than recouping its post-Brexit losses.
Thursday's cautious rally follows a welcome jump in full-time jobs, according to figures released by the Australian Bureau of Statistics, although the unemployment rate also rose. had five consecutive days of gains but the gains haven't been on anything solid, there's not a lot of conviction behind the actual moves and the market's probably running out of steam," said market analyst Tristan K'Nell at Altair Asset Management in Sydney.
"The resources sector has run really hard over the last couple of months, so there's no surprise to see a little bit of easing there. And although the employment data was just below headline numbers, it wasn't too bad. It was a good number in terms of full-time employment."
Shares in oil and gas explorer FAR Ltd FAR.AX slumped as much as 20 percent before going on a trading halt, after Woodside Petroleum WPL.AX agreed to buy out ConocoPhillips (NYSE:COP)' interests in oil discoveries off Senegal, where FAR is a stakeholder.
The price Woodside paid implied a value of A$0.07 for FAR, well below some analysts' estimates of the value of its stake. stocks backtracked on recent gains. BHP Billiton (LON:BLT) Ltd BHP.AX shares fell 1.5 percent, Newcrest Mining Ltd NCM.AX shares lost 3 percent and Rio Tinto (LON:RIO) Ltd RIO.AX stocks were down 1.4 percent at lunchtime.
Financials extended recent gains, following the relection of Australia's conservative government, with National Australia Bank Ltd NAB.AX the biggest mover, adding 1.2 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 inched up 0.2 percent or 12.88 points to 7,077.20.
Steel goods manufacturer Steel Tube STU.NZ led gains, rising 2.63 percent.
A2 Milk ATM.NZ rose 1.6 percent and Air New Zealand AIR.NZ was up 1.2 percent.
Shares in Fonterra's FCG.NZ fund FSF.NZ , which provides investor exposure to the farmer-owned dairy exporter, rose 0.4 percent after the co-operative announced its June operating figures and said exports to China and Latin America had strong growth. operator Sky City SKC.NZ lost 0.6 percent after it announced the resignation of a senior manager. more individual stocks activity click on STXBZ