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Australia shares edge higher on miners, AGL falls after carbon repeal
July 17, 2014 / 7:06 AM / 3 years ago

Australia shares edge higher on miners, AGL falls after carbon repeal

(Updates to close)

SYDNEY, July 17 (Reuters) - Australian shares rose 0.1 percent on Thursday as Wall Street edged higher and firmer metal prices helped prop up the mining space, though a fall in the country’s second-largest power retailer tempered gains.

AGL Energy Ltd tumbled 5.5 percent, its largest one-day percentage fall since 2009, after saying the federal government’s repeal of the carbon tax will hurt its profit by approximately A$186 million.

The S&P/ASX 200 index eased 3.5 points to 5,522.4 points at the close of trade. The benchmark added 0.1 percent on Wednesday.

New Zealand’s benchmark NZX 50 index closed down 1.9 points at 5,112.4 points, with software company Xero Ltd the biggest drag as it fell 4.7 percent. (Reporting by Thuy Ong; Editing by Kim Coghill)

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