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Energy, miners pull Australian shares lower, NZ up

Thu, 18th Jul 2019 07:54

* Energy, mining shares lead losses

* Cimic Ltd top decliner on ASX 200, down 19%

* Financials also weigh(Updates to close)

July 18 (Reuters) - Energy and commodity-related firms ledlosses on the Australian benchmark share index on Thursday,while renewed concerns over U.S.-China trade relations keptinvestor risk appetite in check.

The S&P/ASX 200 index ended 0.4% lower at 6,649.10.The benchmark rose 0.5% on Wednesday.

Oil prices steadied after initially extending the previousday's decline when data showed U.S. stockpiles of products suchas gasoline had risen sharply last week.

The energy sub-index plummeted 2.3%, with its biggest playerWoodside Petroleum falling to a six-week low afterreporting a 32% decline in second-quarter revenue, missinganalyst forecasts by a big margin.

Australian mining shares slid as iron ore futures inChina retreated from record levels after a rally in thesteel-making ingredient took it to its highest since 2013.{IRONORE/]

Shares of global miner Rio Tinto were off 0.8%,while those of its larger rival BHP Group fell 1.5%.

The stock of contract miner Cimic Group plunged 19%to a more than two-year low after its first-half profit missedanalyst expectations.

Meanwhile, mixed Australian jobs data released earlier inthe day gave no new incentive to bet on a rate cut in the nearterm and renewed concerns over a lack of progress in theSino-U.S. trade dispute kept investors wary.

Shares of the country's top lenders were flat to 0.4% lowerafter credit rating firm Fitch cut its outlook for WestpacBanking Corp and Australia and New Zealand BankingGroup to "negative" from "stable" on Wednesday.

New Zealand's benchmark S&P/NZX 50 index closed up0.8% at 10,741.09.

The domestic energy sector comprising refiners and petroleumdistributors cheered lower oil prices. New Zealand RefiningCompany added 1.4%, while Z Energy Ltd gained2.1%. Utilities advanced too.(Reporting by Rushil Dutta in BengaluruEditing by Jacqueline Wong)

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