(Updates to close)
* ASX 200 records best session since January
* Most sub-indexes gain
* Evolution Mining posts worst day since December 2011
* NZX 50 marks biggest pct gain since March
June 27 (Reuters) - Australian shares closed higher on
Monday, recording their best day in nearly five months, as firm
commodity prices powered mining stocks and investors bought
stocks that witnessed a selloff recently.
The S&P/ASX 200 closed 1.9% higher at 6,706.00
points its biggest one-day gain since Jan. 28. The benchmark
also rose for a third straight day.
Most sub-indexes rose, marking widespread improvements that
could be a case of bargain hunters taking advantage of heavy
selling that the market has recently underwent, said Steven
Daghlian, a market analyst at CommSec.
The mining index jumped 1.6% to snap a three-day
losing streak, as iron ore prices firmed. BHP Group,
Rio Tinto and Fortescue Metals advanced
Among other individual sectors and shares, financials
climbed 2.6% to a near two-week high. The country's "big
four" lenders added between 2.3% and 4%.
Gold stocks were the sole laggards on the benchmark,
down 7.4% to their lowest in more than two years.
Evolution Mining was the biggest loser on the
sub-index, plunging 21.9% and marking its worst day since
December 2011, after the company cut its fiscal 2022 gold
Separately, share registry firm Link Administration
rose 4.1%, even as Canada's Dye & Durham lowered its
takeover offer by nearly a quarter to A$2.21 billion ($1.53
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50
ended 1.7% higher at 10,997.92 points its best session
since March 17 as flag carrier Air New Zealand and
dairy firm a2 Milk rallied.
($1 = 1.4428 Australian dollars)
(Reporting by Upasana Singh in Bengaluru; editing by