Australian shares flat, New Zealand lower

Australian shares closed steady on Wednesday after first-quarter economic growth data beat expectations with a 0.3 percent quarter-over-quarter expansion. The S&P/ASX 200 index closed 0.274 points lower at 5,667.2, virtually flat on the day having recovered from a 0.4 percent dip. The 'Big 4' banks gained between 0.3 percent and 0.7 percent, while healthcare stock CSL Ltd gained 0.9 percent.
Rising gold and copper prices boosted miners. Rio Tinto and Newcrest Mining gained 0.3 percent and 0.7 percent, respectively. BHP, weakened by 0.6 percent. The miner, which also has significant oil interests, was helped by global crude oil prices struggling around $50 per barrel. Declines on the benchmark were led by consumer and industrial stocks as retailer Wesfarmers lost 2.9 percent, while toll-road operator Transurban shed 1.4 percent. New Zealand's benchmark S&P/NZX 50 index ended 0.4 percent, or 27.07 points, lower at 7,467.9.