Australia shares end higher on gains in miners, EML Payments



* EML Payments jumps on confirming talks of potential takeover

* Reserve Bank of New Zealand hikes rates, biggest in 20 years (Updates to close)

By Archishma Iyer

April 13 (Reuters) - Australian shares ended higher on Wednesday lifted by miners and energy stocks, which tracked gains in commodity prices, and as EML Payments surged after the company disclosed takeover interest.

The S&P/ASX 200 index .AXJO rose 0.3% to 7,479 points at the close of trade. The bourse closed 0.4% lower on Tuesday.

EML Payments EML.AX was among the biggest percentage gainers on the main index, ending nearly 11% higher. The company said it was in talks with U.S. private equity firm Bain Capital for a potential buyout, but that the talks had ceased without an agreed deal.

Miners .AXMM led gains, rising 1% on stronger iron ore prices after the Chinese State Council told local governments to ensure easy transportation channels for smooth logistics like key raw materials.

Rio Tinto Ltd RIO.AX and BHP Group BHP.AX gained about 2% and 0.1%, respectively.

Energy companies .AXEJ followed suit, with a near 1% rise, as Brent crude prices were lifted by worries that more sanctions against Russia will result in tight supply crunches.

Index majors Santos Ltd STO.AX and Beach Energy BPT.AX gained around 1.3% and 1% respectively.

"The key focus point for now will be the metals and energy markets as commodity prices are rising globally," Henry Jennings, a senior analyst from Marcustoday Financial Newsletter said.

"There is still a bit of optimistic mood out there, but it is tempered down with some caution."

Bullion prices pushed gold stocks .AXGD up 1.3% as concerns over escalation of the Ukraine war led to investors scurrying to the safe-haven asset.

Sector heavyweights Newcrest Mining NCM.AX and Northern Star Resources NST.AX rose 0.2% and 1.5%, respectively.

Across the Tasman Sea, the Reserve Bank of New Zealand raised key policy rates by 50 basis points, in its biggest hike in about 20 years, to reduce higher price pressures.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.1% to 11,875 points to finish the session.


Reporting by Archishma Iyer in Bengaluru; Editing by Amy Caren Daniel

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.