Australia shares boosted by mining, healthcare stocks; Coles, Qantas reward shareholders

Reuters
02-27
Australia shares boosted by mining, healthcare stocks; Coles, Qantas reward shareholders

Feb 27 (Reuters) - Australian shares rose on Thursday, boosted by mining and healthcare stocks, with sentiment further boosted by dividend announcements from Coles Group and Qantas Airways.

The S&P/ASX 200 index .AXJO gained 0.6% to 8292.5 by 1215 GMT.

Mining stocks .AXMM rose 1.5% after falling for three straight sessions, as copper prices picked up after the U.S. moved closer on imposing tariffs on imports, while a power outage in top producer Chile supported the wider market. MET/L

Fortescue FMG.AX and Rio Tinto RIO.AX jumped 2% and 1.9% respectively, while BHP BHP.AX gained 1%.

Healthcare stocks .AXHJ jumped 0.9%, led by Ramsay Health Care RHC.AX soaring 14.5% after it reported first-half group underlying EBIT from continuing operations of A$500.1 million ($315.21 million), a 1% increase

Insurance company Medibank Private MPL.AX rose 8.7% after posting a 14% increase in its half-yearly underlying net profit after tax.

Consumer staples .AXSJ soared 2.1% , with the supermarket chain Coles COL.AX shooting up 5.2% after declaring its highest dividend in at least five years, while reporting a first-half profit in line with market expectations.

Meanwhile shares of Australia's flag carrier Qantas Airways QAN.AX soared 7% after it reported better-than-expected first-half profit, and declared a special dividend for the first time in more than two decades.

Auto retailer Eagers Automotive APE.AX was the top percentage gainer on the benchmark index, soaring 18% after reporting a record high annual profit.

Gold and energy stocks gained as well, supported by higher underlying commodity prices.

U.S. West Texas Intermediate crude CLc1 gained 0.29% to $68.82 per barrel, while gold XAU= rose 0.13% to $2,920.00.

Financials .AXFJ and technology stocks .AXIJ traded largely flat.

Overnight, the U.S. Dow Jones Industrial Average .DJI fell 0.43%, the S&P 500 .SPX, .SPX gained 0.01% while Nasdaq .IXIC gained 0.26%. .N

Japan's Nikkei .N225 was up 0.23% at 38,228.56. .T

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.3% to 12,493.08.

($1 = 1.5865 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru; Editing by Varun H K)

((Nichiket.Sunil@thomsonreuters.com;))

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