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Australian shares flat as NAB, Crown fall on regulatory probe

06/06/2021 | 09:35pm EDT

* Crown, NAB fall on probe for non-compliance breaches

* Miners rise 1.8% on strong commodity prices

* Hansen hits record high on $1 bln buy-out proposal

June 7 (Reuters) - Australian shares were unchanged on Monday as gains among miners were offset by a fall in major companies following a slew of investigations by the country's financial crime regulator.

AUSTRAC launched separate probes into companies such as National Australia Bank, Crown Resorts, Star Entertainment Group and New Zealand-based SkyCity Entertainment for suspected breaches of anti-money laundering laws.

The Australian companies were among the biggest losers on the benchmark index, losing between 1.3% and 3.8%. ASX-listed shares of SkyCity topped the losses, shedding as much as 9.4% to be on track for its worst session in more than a year.

The S&P/ASX 200 index was down 0.02% at 7,294.8, pulling back from record highs it scaled earlier in the session. In markets overseas, Japan's Nikkei gained 0.83% and S&P 500 E-minis futures slipped 0.02%.

The Australian mining subindex rallied 1.6%, with gains dominated by gold stocks. De Grey Mining rose 3.83%, followed by Silver Lake Resources, up 3.18%.

Gold stocks tracked a rebound in bullion prices in the previous session after U.S. nonfarm payrolls did not rise as much as expected.

Technology stocks rose 0.64%, led by Nuix, up 3.09%, and followed by Afterpay, gaining 2.44%.

Financial stocks were the biggest percentage losers on the benchmark, down as much as 1%. NAB's losses weighed on the subindex. The other top banks were also down between 0.7% and 1.2%.

Among other stocks, Hansen Technologies hit record highs on receiving a $1-billion buyout pitch from private equity firm BGH Capital.

Meanwhile, Victoria state on Monday reported its biggest rise in new local COVID-19 cases in a week.

Markets in New Zealand were closed for a holiday.

(Reporting by Savyata Mishra in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -1.66% 102.7 End-of-day quote.-12.97%
ASX LIMITED 0.14% 78.25 End-of-day quote.8.68%
CROWN RESORTS LIMITED -5.47% 8.98 End-of-day quote.-6.75%
DE GREY MINING LIMITED 0.44% 1.14 End-of-day quote.12.32%
HANSEN TECHNOLOGIES LIMITED -0.32% 6.2 End-of-day quote.66.22%
NATIONAL AUSTRALIA BANK LIMITED 0.15% 25.98 End-of-day quote.14.96%
NIKKEI 225 -1.39% 27581.66 Real-time Quote.1.92%
NUIX LIMITED -4.48% 2.56 End-of-day quote.-68.97%
S&P/ASX 200 -0.70% 7379.3 Real-time Quote.12.82%
SILVER 0.39% 24.812 Delayed Quote.-4.48%
SILVER LAKE RESOURCES LIMITED -2.36% 1.45 End-of-day quote.-18.99%
SKYCITY ENTERTAINMENT GROUP LIMITED 0.63% 3.17 End-of-day quote.-1.25%
THE STAR ENTERTAINMENT GROUP LIMITED 3.50% 3.55 End-of-day quote.-3.53%
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