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May 1 (Reuters) - Australian shares continued their upward climb for a seventh straight session as losses in energy and basic materials were outweighed by gains in other sectors.
The S&P/ASX 200 index .AXJO rose 0.6 percent, or 32.436 points to 5,956.5 at the close of trade, logging its longest gaining streak since July 2016.
Industrial stocks led the gains with Sydney Airport SYD.AX adding 2 percent, and utility stocks AGL Energy AGL.AX and APA group APA.AX rising 1.6 percent and 2.6 percent, respectively.
APA Group has agreed to buy Origin Energy's ORG.AX Darling Downs solar farm project for A$200 million ($149.74 million). stocks Wesfarmers WES.AX and Woolworths WOW.AX also contributed to the gains, rising 1.4 percent and 0.6 percent, respectively.
Bellamy's Australia BAL.AX was the biggest gainer on the benchmark, up 5.1 percent.
Financial stocks reversed their earlier trend to end higher with the index rising 0.6 percent as Westpac Banking WBC.AX and Australian and New Zealand Banking Group ANZ.AX inched up over 0.6 percent each.
Among miners, Rio Tinto (LON:RIO) RIO.AX lost nearly 1 percent, while Fortescue Metals FMG.AX declined more than 1 percent.
Gold stocks Newcrest Mining NCM.AX and Evolution Mining EVN.AX declined over 0.4 percent each as gold prices fell on Monday. GOL/
BHP Billiton (LON:BLT) BHP.AX , however, gained 0.7 percent, snapping two losing days.
Energy stocks fell as oil edged lower on Monday with Oil Search OSH.AX shedding 0.6 percent and Santos STO.AX losing as much as 1.2 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged up 0.05 percent, or 3.47 points, to 7,382.22 in its sixth straight session of gains.
The climb was led by the financial sector with Westpac Banking WBC.NZ and Australia and New Zealand Banking ANZ.NZ gaining 0.5 percent and 0.6 percent, respectively.
Energy and consumer sectors led the losses with Z Energy Ltd ZEL.NZ shedding 0.7 percent and Fletcher Building Ltd FBU.NZ falling 1.4 percent.
($1 = 1.3356 Australian dollars)