Australian shares inch higher as healthcare and staples gain

By Reuters News

Sept 14 (Reuters) - Australian shares inched higher on Monday, buoyed by domestic staples stocks and healthcare firms, though losses in miners capped the advance as renewed Middle East hostilities lifted oil prices and curbed risk appetite.

The S&P/ASX 200 index .AXJO was up 0.1% to 8,748.4, as of 1207 GMT, on track for its biggest rise in a week, if gains hold. The benchmark recovered marginally from its lowest close in over two months, which it logged on Friday.

Healthcare stocks .AXHJ jumped 1% and were on track to snap a three-day losing streak, helped by a more than 1.5% jump in heavyweight CSL CSL.AX.

Consumer staples .AXSJ climbed 0.4%, with both Woolworths WOW.AX and Coles COL.AX adding more than 1%.

Energy stocks .AXEJ eked out marginal gains, supported by sector majors Woodside Energy WDS.AX and Santos STO.AX.

Oil prices jumped more than 2% on Monday after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf over the weekend compounded supply concerns following the closure of a key Saudi oil pipeline. O/R

Gold miners .AXGD were up 0.4% due to firmer gold prices, with Northern Star Resources NST.AX adding about 1%. GOL/

However, the broader mining gauge .AXMM slipped 0.5%, marking its fourth consecutive session of losses on weaker iron ore and copper prices. IRONORE/ MET/L

BHP BHP.AX and Rio Tinto lost 0.7% and 0.1%, respectively.

Meanwhile, technology stocks .AXIJ were up 0.9%, on track to gain the most since earlier this month, tracking Wall Street peer Nasdaq's strong finish on Friday. .N

Financials .AXFJ advanced slightly, with the "Big Four" banks adding between 0.2% and 1%.

Shares of vehicle leasing firm FleetPartners FPR.AX surged to a record high after three active bidders tabled higher offers.

Elsewhere, three-year yields eased 1.9 basis points to 4.986%, while 10-year yields fell to 5.352%, but stayed near their highest levels since mid-2011.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.6% to 13,658.14.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.