* QBE beats profit forecast, shares hit 18-month high
* Brambles plans share buyback
* BlueScope profit surges
By Nikhil Nainan
Feb 25 (Reuters) - Australian shares rose on Monday as U.S. President Donald Trump's announced delay to the planned increase in tariffs on Chinese imports bolstered global investor sentiment while upbeat earnings also supported the buoyant mood.
The S&P/ASX 200 index .AXJO rose 0.4 percent, or 23.80 points, to 6,191.10 by 0034 GMT. The benchmark gained 0.5 percent on Friday.
Markets globally took note of Trump's latest announcement, adding to earlier gains at the end of last week on signs of progress in trade talks between the United States and China.
Trump on Sunday tweeted that there was "substantial progress" in trade talks and he would push back the March 1 deadline for higher tariffs, and looked forward to a meeting with Chinese President Xi Jinping to seal a deal. the March 1 imposition of tariffs will be delayed is a positive to some extent," said Michael McCarthy, Chief strategist at CMC Markets and Stockbroking. "We are following the leads we have got from the U.S. markets on Friday night, which were on positive territory largely on similar news."
Mining stocks .AXMM led the gains, rising 1.3 percent, as open trade supports Australia's resource-fuelled economy, which counts China as its largest trading partner.
The trade optimism supported commodity prices on Friday, with copper touching its highest since last July. MET/L
BlueScope BSL.AX jumped 9.6 percent to its highest in more than three months, after reporting a sizable jump in its first-half profit. iron ore miners, BHP Group BHP.AX , Rio Tinto (LON:RIO) RIO.AX and Fortescue Metals Group FMG.AX were all higher, rising between 0.6 percent and 2.3 percent.
In other news, Brambles Ltd BXB.AX rose 8.1 percent to a more than two year high after the pallets and container company announced the $2.5 billion dollar sale of a unit, and earmarked most of the proceeds for a share buyback. Insurance QBE.AX advanced 5.5 percent to a one-and-a-half year high, after its annual profit beat expectations, despite larger rivals Insurance Group Australia IAG.AX and Suncorp Group SUN.AX reporting lower interim profits. energy stocks .AXEJ edged higher with oil prices at 2019 highs, but gains were capped by losses from Whitehaven Coal WHC.AX , trading ex-dividend, and Origin Energy ORG.AX . O/R
Origin said its annual profit would take a hit if a proposal by the government to lower the cost of energy for consumers goes through. Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.1 percent to 9,319.13.
Synlait Milk SML.NZ was the top percentage gainer, rising 3.8 percent, however, losses from shareholder and heavyweight stock a2 Milk ATM.NZ capped gains.
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