Australian shares flat as tech, energy offset losses in miners, gold stocks
The S&P/ASX 200 index was flat at 8,735.90 points as of 0028 GMT, after rising 0.7% on Wednesday.
Energy stocks added 0.3%, with Woodside Energy up 1.5%.
Oil prices advanced on hopes that progress in talks between the U.S. and its key trade partners ahead of the August 1 deadline would ease pressure on the global economy, while a drop in U.S. crude stocks last week signalled solid demand.
Technology stocks rose 0.5%, mirroring gains in overseas peers. ASX-listed shares of Xero grew 0.3%, while those of NEXTDC rose 0.8%.
Bucking the trend, gold stocks shed more than 2.5% to lead the benchmark lower, as bullion prices weakened. Northern Star Resources dropped 3%, while Genesis Minerals lost 1.3%.
Financials slid 0.2%, with Macquarie slipping 5% after reporting a first-quarter net profit decline and announcing the departure of Chief Financial Officer Alex Harvey.
The top investment bank was the biggest laggard on the sub-index.
Miners eased 0.2%, as iron ore prices fell.
Rio Tinto dropped 0.4%. In contrast, Fortescue gained more than 5% after fourth-quarter shipments hit the top end of its fiscal 2025 guidance.
In company news, Lynas Rare Earths reported fourth-quarter revenue beat.
The world's largest producer of rare earth minerals outside China said it had entered into a magnet manufacturing deal with Korea's JS Link. Shares grew more than 4%.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index rose 0.2% to 12,823.99. (Reporting by Roshan Thomas in Bengaluru; Editing by Sumana Nandy)
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