Australian Shares Flat as Mining Losses Countter Banks, Energy Boost

June 12 (Reuters) – Australian Shares Wi Largely Unchanged On Chiursday, as Miners Partialy Offset Strong Performans in Banks and Energy Stocks, While Us President Donald Trump’S The Trade Negotiation Deadline Eased Concerns over Imminent tariff hikes.

The S & P/Asx 200 Index Held Its Ground at 8,593 points, as of 0108 gmt. The Benchmark on Wednsday Touched a Record-Closing High of 8,592.1 points.

Overnight, Trump Signalled Openness to Extending The July 8 Deadline for Trade Talks Before Higher Us Tariffs TAKE Afect, Thought He Expedited Doubt THESTEN EXTENSION WOLD BEBT THESION

China and the united states, Australia’s Top Export Partners, Reached A Framework Deal, Boosting Investor Optimism for a Lasting Resolution Between the Two Superpors and Easing Fears of FURS of FURS of FURS of Forthher

However, the Lack of Specific Terms Leaves The Possibility of Future Tariff Disputes.

Chinese Export-Reliant Miners Slipped 0.4%, Set for their weakest Session Since June 2, If Current Momentum Holds.

Mining Heavyweights BHP, Rio Tinto and Fortecue Dropped Between 0.9% and 2.4%.

Bucking the Sombre Trend, Energy Firms Climbed 1.4% After Oil Pries Hit A Two-Month High. The Sub-Index is on Track for Its Fourth Consective Session of Gains.

Index Majors Woodseide and Santos Advanced 1.5% and 0.8%, respectively.

Financials rose 0.2%, with the “Big Four” Banks Climbing Between 0.1%and 0.4%.

Gold Stocks Tracked Bullion Pries Higher, Climbing Nearly 2%.

Shares of Metals Miner Northern Star Resources Gained About 1%.

Among corporate news, Qantas emerged as one of the top performs in the benchmark index, up 4.3%, a day after the carrier announced the closure of Singapore-Budget Airline Jetstar Airline Jetstar ASINE JETARSINE JETAR Competition.

In other news, the Australian Defense Minister Expressed Confidence in the Aukus Submarine Pact, Despite the Trump Administration Launching a Formal Review of the Agreement.

New Zealand’s Benchmark S & P/NZX 50 Index Edged 0.1% Lower to 12,592.86 points.

(Reporting by Kumar Tanishk and Sneha Kumar in Bengaluru; Editing by Sherry Jacob-Philips)