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Australia shares end flat as basic materials weigh; NZ closes higher
October 14, 2016 / 6:31 AM / in a year

Australia shares end flat as basic materials weigh; NZ closes higher

(Updates to close)

Oct 14 (Reuters) - Australian shares ended flat on Friday in lacklustre trade, dragged down by stocks of basic materials companies, while a rise in crude oil prices supported energy shares.

The S&P/ASX 200 index was 0.03 percent lower at 5,434 at the close of trade. The index fell 0.6 percent on the week.

Large cap miners BHP Billiton Ltd lost 0.9 percent, while Rio Tinto ended 1 percent lower.

Oil major Woodside Petroleum Ltd closed up 0.2 percent, while Beach Energy Ltd ended nearly 2 percent higher.

Crude prices edged up on Friday, pushed by a tighter U.S. fuel market and as technical indicators attracted buying from financial players.

New Zealand’s benchmark S&P/NZX 50 index ended 0.19 percent higher at 7,133.26. The index lost 0.48 percent this week, extending losses for a second week.

Summerset Group Holdings was the biggest gainer on the index, closing up 1.9 percent, followed by Air New Zealand Ltd that finished 1.8 percent higher.

Reporting by Anusha Ravindranath in Bengaluru; Editing by Biju Dwarakanath

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