Feb 1 (Reuters) - Australian shares rose on Wednesday, lifted by stronger commodity prices, as the benchmark index tracked overnight gains on Wall Street after encouraging U.S. data.

The S&P/ASX 200 index rose 0.7% to 7,532.2 points by 2339 GMT. The benchmark slipped about 0.1% on Tuesday.

U.S. stocks closed higher on Tuesday after data showed labour cost growth in the fourth quarter was the smallest in a year, at 1.0%, even in a tight jobs market.

Domestic miners rallied, with the sub-index gaining 1.3%. Iron-ore behemoths BHP Group, Rio Tinto and Fortescue Metals were up between 1.2% and 1.6%, respectively.

Financials rose 0.6% to its highest since May 2022, with all "Big Four" banks posting gains.

Local energy stocks added 0.5% on the back of steady oil prices overnight. Sector majors Woodside and Santos climbed 0.9% each.

Technology stocks rose 0.5%, with Xero and Block Inc adding gains to the benchmark.

Among individual stocks, Flight Centre Travel Group surged as much as 14.9%, eyeing its best day in more than two years as the travel agency said it will buy British travel business Scott Dunn for A$211 million ($148.67 million).

The company undertook a A$180 million capital raising to fund the acquisition.

Credit Corp was the top loser on the ASX 200 after its profit fell and missed analysts' estimates. Its shares fell 9.2% in its worst session Aug. 2, 2022.

Maggie Beer dropped 7% despite posting a rise in half-year net sales and profit.

In New Zealand, the benchmark S&P/NZX 50 index was down 0.7% at 12,056.5. ($1 = 1.4192 Australian dollars) (Reporting by Rishav Chatterjee in Bengaluru; editing by Uttaresh.V)