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Australia shares rise on boost from healthcare, mining; NZ down

Published 08/04/2019, 05:04 pm
Updated 08/04/2019, 05:10 pm
© Reuters.  Australia shares rise on boost from healthcare, mining; NZ down
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* Dalian iron ore hits record high, miners surge

* Energy stocks jump as oil prices at highest since Nov. 2018

* Gold miners among top gainers amid firm prices (Updates to close)

April 8 (Reuters) - Australian shares were given a boost on Monday by gains in mining and healthcare firms, with upbeat U.S. jobs data helping ease some of the anxiety over a broad slowdown globally and in the world's biggest economy.

Wall Street stocks rose on Friday after U.S. nonfarm payrolls data beat expectations in a much-needed boost to fragile investor confidence. .N

The S&P/ASX 200 index .AXJO closed up 0.65 percent or 40.1 points at 6,221.4, recouping some of 0.8 percent losses on Friday.

"Many of the underlying commodities are in the uptrend at the moment and that would see continued support for the miners... Prices remain elevated and there could be further gains in the sector," said Michael McCarthy, chief market strategist at CMC Markets.

Miners .AXMM jumped 1.7 percent as Dalian iron ore prices extended an impressive rally, hitting a record high. Mining behemoths BHP Group BHP.AX rose 1.4 percent, while Rio Tinto (LON:RIO) RIO.AX advanced 1.5 percent.

Fortescue Metals Group FMG.AX rose 2.8 percent, posting its ninth winning session out of ten.

Increased demand from China for steelmaking raw materials as industrial activity returns to full swing at the end of winter supported prices, amid declining shipments from Brazil and Australia. IRONORE/

Resolute Mining RSG.AX was the top gainer on index, up 7.7 percent, after its March quarter gold production rose 33 percent from the prior quarter. gold miners .AXGD also rallied after gold prices rose to a one-week peak, with the country's biggest gold miner Newcrest Mining NCM.AX gaining 1.4 percent.

On the downside, rare-earths miner Lynas Corporation LYC.AX slipped amid signs of tightening regulations, with the firm facing the prospect of losing the operating license for its processing plant in Malaysia. boosting the index were healthcare stocks .AXHJ , which rose 1.5 percent, with benchmark heavyweight CSL Ltd CSL.AX putting on 1.8 percent.

Energy stocks .AXEJ rose in tandem with oil prices, with Woodside Petroleum WPL.AX up 1.3 percent and Oil Search OSH.AX tacking on 1.1 percent.

Financial stocks .AXFJ underperformed, with the "Big Four" banks edging lower, as the sector took a breather after a strong six-session rally that ended on Thursday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.51 percent or 49.97 points to finish at 9,807.08.

Transportation and energy services provider Infratil IFT.NZ slipped 1.6 percent after it cut its earnings guidance for the 2019 year.

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