Australia shares end flat; GQG Partners sinks on US indictment of India's Adani
Updates to close
ASX-listed shares of GQG Partners down 19.3%
Gold stocks rise for fifth straight day
Financial stocks up
By Sneha Kumar
Nov 21 (Reuters) -Australian shares were little changed on Thursday, as gains in banks and gold stocks were offset by losses in investment firm GQG Partners, which dropped after Indian conglomerate Adani Group's chair was indicted in the United States.
The S&P/ASX 200 benchmark index .AXJO closed at 8,323 points, compared to its previous close of 8,326.30.
Australia-listed shares of GQG Partners GQG.AX, which holds a combined stake of nearly 20% in four Adani firms, fell more than 19% after Gautam Adani was charged with bribery and fraud in New York. It was among the biggest losers by percentage on the benchmark index.
Globally, investors were cautious with the looming threat of escalating tensions between Ukraine and Russia, and after artificial intelligence chipmaker Nvidia's NVDA.O fourth-quarter forecast failed to meet some investors' expectations.
"The market was positioned long and I don't think that the numbers that they (Nvidia) delivered are going to be sufficient to see that enthusiasm continue at least in the short term and of course that's why it weighing on the ASX 200," said Tony Sycamore, market analyst at IG.
Financials .AXFJ rose 0.3% after minutes of the Reserve Bank of Australia's November meeting earlier this week revealed that the central bank was is no rush to change interest rates. Three of the "Big Four" banks rose between 0.2% and 1.5%.
The index of local gold stocks .AXGD rose 1.3% to its highest in over a week, tracking a rally in the precious metal. The sub-index logged its fifth consecutive session of gains. GOL/
Gold miners Evolution Mining EVN.AX added 1.4% while Northern Star Resources NST.AX climbed 2.9%.
Energy stocks .AXEJ inched higher, as oil prices edged up due to the rising tensions between Ukraine and Russia. O/R
Sector majors Woodside WDS.AX and Santos STO.AX rose 0.5% and 0.2%, respectively.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.2% to 12,765.24 points.
Reporting by Sneha Kumar in Bengaluru; Editing by Varun H K
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