* Macquarie leads losses after CEO change
* Newcrest Mining biggest boost on the benchmark
* Easing U.S. dollar helps gold prices edge up
By Nikhil Nainan
July 26 (Reuters) - Australian shares dipped in light trade on Thursday with Macquarie Group lower on succession concerns after the investment bank announced a new chief executive, although strong gains in gold stocks provided wider support for the market.
The S&P/ASX 200 index was down a mere 1.6 points to 6,246 by 0200 GMT. The benchmark fell 0.3 percent on Wednesday.
Financials, which account for well over a quarter of the benchmark, slid as shares of Macquarie slumped as much as 4.7 percent, their lowest in over a month.
Shares fell despite Australia’s biggest investment bank maintaining its full year earnings guidance with investors cautious about the appointment of new chief executive Shemara Wikramanayake.
“The outlook for them is positive, however, there seems to blowback on the succession of (outgoing CEO) Nicholas Moore,” said James McGlew, executive director of corporate stockbroking at Argonaut.
Macquarie has remained relatively unscathed by the Royal Commission into Australian banks, which has helped it outperform its peers. Analysts say the new appointment may have given investors a reason to take some profit on their Macquarie holdings.
On top of those losses, Australia and New Zealand Bank slipped 0.7 percent, contributing to a 0.5 percent decline in the sector index
While easing concerns about global trade tensions improved wider sentiment in Asia, Australian stocks remained under pressure.
Resource-based sectors were the only ones to inch out gains, helped by oil prices rising to over $74.64 a barrel and a strong increase by Australia’s largest listed gold miner, Newcrest Mining.
The gold index jumped nearly 4 percent, after Newcrest reported a 15 percent bounce in fourth-quarter gold output, meeting annual targets despite gold prices losing nearly 6 percent so far this year.
The energy sector picked up after oil prices rose on data that showed U.S. domestic crude inventories falling to their lowest levels since February 2015, easing worries of oversupply in the market.
The index was up 0.7 percent, with Woodside Petroleum and Santos driving the gains, up 0.8 percent and 2 percent, respectively.
New Zealand’s benchmark S&P/NZX 50 index gained 0.2 percent or 20.15 points to 8,954.04.
Healthcare stocks led the gains, with Fisher & Paykel Healthcare Corporation Ltd and Ryman Healthcare Ltd , down 1.1 percent and 1.5 percent, respectively. For more individual stocks activity click on
Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sam Holmes