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Australia shares snap three-day losing streak; NZ down

Published 22/02/2017, 05:37 pm
© Reuters.  Australia shares snap three-day losing streak; NZ down
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Feb 22 (Reuters) - Australian shares snapped a three-day losing streak, ending marginally higher on Wednesday as gains by consumer stocks offset losses in many financial counters.

The S&P/ASX 200 index .AXJO closed up 0.2 percent, or 14.071 points, to 5805.10 at the close of trade.

The benchmark financial index .AXFJ slipped for a second consecutive session, losing 0.7 percent.

The country's biggest mortgage lender, Commonwealth Bank of Australia CBA.AX at one point was down 3 percent, its biggest intraday loss in over three months. The stock, which is trading ex-dividend, ended the day off 2.6 percent. other three of the "Big Four" banks closed higher, with gains between 0.4 and 0.8 percent.

Media monitoring and analytics company iSentia Group ISD.AX was the biggest loser on the index, falling to an all-time low of A$1.67 after it said first-half core earnings fell 13 percent. service provider Vocus Group Ltd VOC.AX , the biggest gainer on the benchmark index, closed 10.2 percent higher after a jump in its half-year revenue and profit. distributor Coca-Cola Amatil Ltd CCL.AX rose to a near two-year high after its annual profit rose 6 percent. .AXMM were off as much as 0.8 percent before finishing the day 0.3 percent down. Giant BHP Billiton (LON:BLT) BHP.AX fell 0.7 percent for the day.

Iron ore miner Fortescue Metals Group Ltd FMG.AX declined 2.7 percent, after its half-year results fell short of market expectations. energy index .AXEJ added 1 percent, climbing for a second straight session on strong oil prices. O/R

New Zealand's benchmark S&P/NZX 50 index .NZ50 closed 0.7 percent lower, dragged down by consumer stocks.

Fletcher Building Ltd FBU.NZ sinks as much as 7.4 percent to its lowest in around four months after it said the global market outlook was uncertain. television provider Sky Network Television SKT.NZ closed 2.7 percent lower after its half-year profit fell 32 percent. New Zealand court on Wednesday ruled that a 36-hour pause must take place before Sky Network can buy Vodafone 's New Zealand unit VOD.L if the competition regulator approves the deal.

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