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REFILE-Tech stocks lead Australian benchmark higher amid Wall Street weakness

Published 13/04/2021, 10:48 am
Updated 13/04/2021, 11:06 am
©  Reuters

(Adds dropped word 'Australian' in headline)

April 13 (Reuters) - Australian shares were led higher by a jump in technology stocks on Tuesday, while losses in energy stocks and miners capped gains.

The S&P/ASX 200 index .AXJO rose 0.29% to 6,994 points in early trade, off 3.1% from its lifetime high on Feb. 20, 2020. Buy-now-pay-later firm Zip Co Z1P.AX was the top gainer on the benchmark after announcing upbeat quarterly results.

Zip said it was investing in both developed and developing markets to expand its global footprint and also made a soft launch into Canada, driven by U.S. merchants' demand.

The S&P 500 .SPX and Dow Jones industrial average .DJI ended lower on Monday, with investors waiting for cues from the upcoming corporate earnings season and a key inflation report later this week. .N

Overseas, S&P 500 E-minis futures EScv1 were up 0.04%, while Nikkei futures NKc1 rose 0.05%.

Australia's technology stocks .AXIJ rose 1.48% led by electronics solutions developer Codan Ltd CDA.AX followed by Xero Ltd XRO.AX , both gaining over 2%.

Financial stocks .AXFJ rose 0.3% led by Zip Co Ltd Z1P.AX , up 5.41%, followed by Netwealth Group Ltd NWL.AX , gaining 3.11%.

ASX 300 metals and mining index .AXMM fell 0.02% led by Imdex Ltd IMD.AX , down 1.62%, followed by Nickel Mines Ltd NIC.AX , losing 1.59%.

ASX 200 Energy index .AXEJ fell 0.56​% with Ampol Ltd ALD.AX being the biggest decliner at 1.88%, followed by Beach Energy Ltd BPT.AX , losing 1.17%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose about 0.3% to 12560.1 with dairy firm Synlait Milk SML.NZ leading gains. The country's central bank is set to leave interest rates unchanged on Wednesday.

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