Australian shares were largely unchanged on Thursday, as investors awaited key US inflation data due on Friday to assess interest rate cuts ahead, while airline operator Qantas touched a record high after blockbuster annual results.
The S&P/ASX 200 index was flat at 8,961.30, as of 0101 GMT.
The benchmark ended 0.3% higher on Wednesday. Investors are in a wait-and-see mode ahead of the US Personal Consumption Expenditures data, due on Friday, the Federal Reserve’s preferred inflation gauge, which could provide some insight into the interest-rate path ahead.
In Sydney, heavyweight financial stocks rose 0.6%, with shares of “Big Four” banks rising between 0.4% and 1.6%.
The country’s biggest business lender, National Australia Bank appointed Inder Singh as its group chief financial officer, who joins the company from QBE Insurance. Shares were up 1.5%.
Mining stocks declined 0.9% after iron ore and copper prices fell.
Mining giants BHP Group and Rio Tinto slipped 0.8% and 1.1%, respectively.
Gold stocks declined 0.5%, while energy stocks fell 2.2%.
Technology stocks slipped 1.5%, with Wisetech Global falling 4.5%, extending losses to a second day after the logistics software maker forecast lower-than-expected operating earnings on Wednesday.
Qantas Airways surged as much as 13.6% to a record high after the country’s flag carrier posted its second-best annual underlying earnings and announced the highest full-year dividend payout in 17 years.
South32 fell as much as 5.3% to hit its lowest since early May after the diversified miner posted a higher annual profit that came short of expectations and announced a lower dividend.
Wesfarmers, the country’s biggest non-food retailer, reported a near 4% rise in its annual profit and announced a $1.1 billion capital return to shareholders.
Shares were largely unchanged. Meanwhile, New Zealand’s benchmark S&P/NZX 50 index was little changed at 12,868.18.
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