Stocks

Australia shares flat as gains in miners cushion subdued financials

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Nov 25 (Reuters) - Australian shares were largely unchanged on Thursday, as gains in local miners on rising iron ore prices were offset by losses in financial stocks.

The S&P/ASX 200 index (.AXJO) slipped 0.09% to 7,392.6 by 0002 GMT.

Mining stocks (.AXMM) rose about 1% and were the biggest boost to the main index, after the benchmark iron ore futures jumped 5.8% extending on a 10% jump from the previous session.

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Sector heavyweights BHP (BHP.AX), Rio Tinto (RIO.AX) and Fortescue (FMG.AX) gained between 1% and 2.8%, with Foretscue touching its highest level since Sept. 14.

Australia tech stocks (.AXIJ) rose 1.5% despite a mixed Wall Street session overnight, with EML Payments (EML.AX) rising over 16% to track its best day since February, after Ireland's central bank allowed its unit to sign new customers and launch new programs.

Afterpay (APT.AX) was also among top gainers on the sub-index, rising 3.2% - tracking a 2.4% jump in Square (SQ.N) on Wednesday.

Bucking the trend, financials (.AXFJ) fell for a second consecutive session and were down by 0.6%, with all of the "Big Four" banks in the red.

Shares of National Australia Bank (NAB.AX) was down about 1%, even after the country's competition watchdog approved its acquisition of Citi's local consumer business. read more

New Zealand's benchmark S&P/NZX 50 index (.NZ50) rose 0.8% to 12,868.4, with the country's biggest company by market value, Fisher & Paykel (FPH.NZ), hitting a two-month high on upbeat results.

New Zealand also posted a monthly trade deficit for the month of October, a day after the country's central bank lifted interest rates for the second time in as many months amid rising inflationary pressures and easing coronavirus curbs. read more

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Reporting by Indranil Sarkar in Bengaluru; Editing by Rashmi Aich

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