Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australia shares snap 4 days of losses as banks firm; NZ down

Published 14/09/2016, 05:31 pm
© Reuters.  Australia shares snap 4 days of losses as banks firm; NZ down
AXJO
-
BHP
-
RIO
-
BHPB
-
RIO
-
TLS
-
WES
-
TWE
-

(Updates to close)

Sept 14 (Reuters) - Australian shares recovered from four-straight sessions of losses on Wednesday, boosted by financial stocks, as expectations rose of the country's 30-year bond debut drawing strong demand. S&P/ASX 200 index .AXJO inched higher, finishing up 19.92 points, or 0.4 percent, at 5,227.7.

The "Big Four" banks gained between 0.6 percent to 1.5 percent.

Telecoms giant Telstra Ltd TLS.AX reversed losses to close 2.6 percent higher in what is its biggest daily percentage gain since early May.

The world's largest standalone winemaker Treasury Wine Estates TWE.AX extended gains to rise 1.8 percent, while retail giant Wesfarmers WES.AX climbed more than 1 percent.

Mining giants BHP Billiton (LON:BLT) Ltd BHP.AX and Rio Tinto (LON:RIO) Ltd RIO.AX slipped 1 percent and 1.3 percent, respectively.

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended weaker for a fifth straight session, falling 0.5 percent or 38.51 points to 7,210.72.

Utilities and industrials were the biggest drag on the benchmark index.

Power generation company Meridian Energy MEL.NZ was the biggest loser on the index, falling more than 3 percent, hurt by weak retail sales volumes in August which fell 4.5 percent year-on-year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.