Australia shares edge higher as oil price lifts energy stocks


WELLINGTON: Australian shares snapped a six-day losing streak and rose slightly on Wednesday after a surge in the oil price lifted energy stocks while banks gained on hints the central bank may raise rates again this year.


The S&P/ASX 200 index see-sawed in a narrow range before settling up 7.3 points, or 0.1 percent, at the close of trade. The benchmark has lost nearly 6 percent since May 29.

New Zealand’s benchmark NZX 50 index fell 58.2 points or 1 percent to finish the session at 5803.9. The percentage fall was the biggest since March 18.