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REFILE-Australia shares flat as technical snag halts afternoon trade; NZ up

Published 19/09/2016, 05:02 pm
© Reuters.  REFILE-Australia shares flat as technical snag halts afternoon trade; NZ up
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Sept 19 (Reuters) - Australian shares struggled to advance on Monday, with technical glitches marring early dealing and later forcing a halt to afternoon trade.

Losses in consumer and energy stocks offset gains in materials and financials, but the technical problems and caution ahead of central bank meetings in the United States and Japan this week left investors in little mood to stake out new positions.

Afternoon trading was halted on the Australian Securities Exchange (ASX) as a technical snag that had delayed the market's opening resurfaced. S&P/ASX 200 index .AXJO , which had gained in the past three sessions, closed down 0.04 percent or 1.90 points to 5,294.8.

Stock exchange operator ASX ASX.AX fell 1.4 percent.

Energy stocks .AXEJ slipped as crude oil hit multi-week low on Friday O/R . Oil major Woodside Petroleum WPL.AX slid 1.1 percent while Beach Energy BPT.AX tumbled more than 2 percent.

Retail to resources giant Wesfarmers Ltd WES.AX fell as much as 2.1 percent but then erased much of that loss to end 0.5 percent weaker.

Gold stocks .AXGD gained 1.8 percent as spot gold XAU= rose 0.4 percent to $1,315.70 an ounce by 0606 GMT. Gold miner Newcrest Mining Ltd NCM.AX was among the biggest gainers on the benchmark, climbing more than 2 percent.

New Zealand's benchmark S&P/NZX 50 index .NZ50 extended gains, advancing 0.4 percent or 27.61 points to 7,278.12.

Financial exchange operator NZX Ltd NZX.NZ ended 1.9 percent firmer while Stride Property Ltd SPG.NZ was the biggest gainer on the benchmark, hitting an all-time high intra-day percentage gain of 4.1 percent.

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