Feb 6 (Reuters) - Australian shares were largely flat on
Monday, with gains in mining and energy stocks keeping the
benchmark index afloat ahead of a central bank policy decision,
while top gold miner Newcrest Mining surged on a $16.9 billion
buyout offer.
The S&P/ASX 200 index was up 0.05% at 7,561.90, as
of 2349 GMT. The benchmark ended 0.6% higher on Friday.
The Reserve Bank of Australia is widely expected to deliver
a fourth straight quarter-point interest rate hike on Tuesday
and will likely follow up with a similar sized increase in March
as it fights an unexpected revival in inflation, a Reuters poll
showed.
Data on Friday showed U.S. job growth accelerated sharply
last month, while the unemployment rate was at its lowest in
over half a century, pointing to a stubbornly tight labour
market and a potential headache for Federal Reserve officials in
their fight against inflation.
Mining stocks jumped 1.3% and kept the benchmark
afloat, with BHP Group , Rio Tinto , and
Fortescue Metals Group adding between 0.9% and 1.4%.
Meanwhile, OZ Minerals' A$9.6 billion ($6.61
billion) buyout by BHP received approval from the Brazilian
competition regulator, and is now subject to shareholder vote
expected in early April.
Separately, Beach Energy reached a deal with
Italy's Webuild SpA to complete delivery of the A$768
million ($531.53 million) Waitsia Stage 2 gas project.
Gold stocks jumped as much as 4.5%, with Newcrest
Mining rising up to 14.4% after the company received a
$16.9 billion initial takeover offer from U.S.-based Newmont
Corp .
Tech stocks fell 0.3% after the Nasdaq closed lower on Friday. ASX-listed shares of Block Inc fell 0.6%, while Xero slipped 0.4%. Financials fell 0.1%, with all the "big four" banks
trading in negative territory.
Markets in New Zealand were closed for a public holiday.
($1 = 1.4449 Australian dollars)
(Reporting by Nausheen Thusoo in Bengaluru; Editing by
Subhranshu Sahu)
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