June 2, 2020 / 1:32 AM / a month ago

Australian shares edge higher as energy stocks gain; NZ rises

June 2 (Reuters) - Australian shares inched higher on Tuesday as gains in energy and financial stocks offset losses in mining stocks, while investors awaited a rate decision by the central bank.

The Reserve Bank of Australia is expected to keep rates on hold at its policy meeting later in the day as the government moves to revive an ailing economy amid further relaxation of the pandemic-induced lockdown.

Meanwhile, rising violence in the United States has also dampened investor sentiment, with several cities under curfew and the National Guard deployed in 23 states and Washington, D.C.

The S&P/ASX 200 index rose 0.14% to 5,827.6 points by 0101 GMT. The benchmark rose 1.1% on Monday.

Stronger oil prices provided a boost to energy stocks which rose 0.57% with shares of Worley Ltd, up 3.49%, and those of New Hope Corporation Ltd, gaining 2.55​%.

Financial stocks rose 0.38%, with shares of Commonwealth Bank of Australia rising 0.5%, while Australia and New Zealand Banking Group slipped 0.6% after it announced the sale of its New Zealand-based asset finance unit.

Meanwhile, ASX 300 metals and mining index with global miners BHP Group Ltd shedding 1.1%, while Fortescue Metals Group dipped 1.2%.

Gold stocks also traded in the red, falling 1.07%, with Tribune Resources Ltd down 2.86% and Northern Star Resources Ltd losing 1.78%.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.94% to 10,984.4.

The top percentage gainers on the are Gentrack Group Ltd, up 11.89%, followed by Synlait Milk Ltd, gaining 8.77% and Fletcher Building Ltd, up 8.26%. (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi Aich)

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