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March 14 (Reuters) - Australian shares barely changed in lacklustre trade on Tuesday as gains for miners, pulled up by rising metal prices, were effectively cancelled out by falls in financial stocks.
Financial stocks were lower ahead of U.S. Federal Reserve's two-day meeting, starting later on Tuesday, which markets believe will bring a hike in U.S. interest rates. S&P/ASX 200 index .AXJO was up 0.03 percent, or 1.753 points, to 5,759.1 at the close of trade. The benchmark fell 0.32 percent in the previous session.
Two of the 'Big 4' banks lost 0.7 percent. However, Commonwealth Bank of Australia CBA.AX was 0.2 percent higher while Australia and New Zealand Bank ANZ.AX ended flat.
Copper-iron ore miners BHP Billiton (LON:BLT) BHP.AX , Rio Tinto (LON:RIO) RIO.AX and Fortescue Metals FMG.AX gained between 0.6 percent and 0.9 percent.
BHP Billiton snapped five straight losing sessions and logged its best day since March 2.
Chinese steel and iron ore futures extended steep gains fron the previous session, and London copper edged higher on Tuesday, both supported by positive data from China. IRONORE/ MET/L miners Newcrest Mining NCM.AX and St. Barbara SBM.AX gained 0.14 percent and 5.3 percent respectively as gold prices steadied in anticipation of the expected Fed rate hike. GOL/
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.25 percent or 17.7 points to finish the session at 7,177.09.
Falls in industrial stocks Auckland International Airport AIA.NZ of nearly 1 percent and Air New Zealand AIR.NZ of 2.2 percent dragged the index lower.