Australian shares muted as commodity stock losses offset gains in financials
Nov 11 (Reuters) -Australian shares were largely muted on Monday, as gains in financial stocks were countered by losses in commodity stocks, while investors exercised caution ahead of the local jobs data due later in the week.
The S&P/ASX 200 index .AXJO was down 0.2% at 8,272.4, as of 0012 GMT. The benchmark ended 0.8% higher on Friday.
Australia's October jobs data is due on Thursday.
Miners .AXMM led losses on the benchmark index, tracking weak iron ore futures prices, and shed as much as 2.8% to hit their lowest level since late September. IRONORE/
Heavy-weight miners BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX lost between 2.9% and 4.2%.
Gold miners .AXGD lost as much as 1.3%, dragged by falling gold prices. GOL/
Gold miner Evolution Mining EVN.AX was down 1.02%.
Energy stocks .AXEJ fell as much as 0.8% due to weaker oil prices. O/R
Brent crude LCOc1 futures fell 0.07% to $73.82.
Sector majors Woodside Energy WDS.AX and Santos STO.AX were down 0.2% and 0.4%, respectively.
Among other sub-indexes, financials .AXFJ were up as much as 0.4% to hit a record high level.
While three of the "Big Four" banks gained between 0.3% and 1.01%, Westpac Banking Corp WBC.AX was down 0.5%.
Overnight, the U.S. Dow Jones Industrial Average .DJI rose 259.65 points, or 0.59%, to 43,988.99 on Friday. The S&P 500 .SPX gained 22.44 points, or 0.38%, while Nasdaq .IXIC edged up 17.32 points, or 0.09%. .N
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 traded 0.6% lower at 12,691.54.
Fonterra Co-operative FCG.NZ rose as much as 6.1% to its highest level since early May 2021, after the dairy giant said it would go ahead with a potential divestment of its global consumer business and integrated operations in Oceania and Sri Lanka.
Reporting by Sherin Sunny in Bengaluru; Editing by Rashmi Aich
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