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Australian shares flat as miners counter losses in banks



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Sept 11 (Reuters) -Australian shares struggled for momentum on Wednesday as gains in miners countered losses in financial and energy stocks, while investors globally awaited U.S. inflation data for hints on the depth of a rate cut expected from the Federal Reserve next week.

The S&P/ASX 200 index .AXJO was flat at 8,017.9 as of 1237 GMT.

Investors are closely looking at the U.S. Consumer Price Index (CPI) report, due later in day, along with the Producer Price Index reading and initial jobless claims data on Thursday.

In Sydney, miners .AXMM gained 2.4% and were on track for their best day since Aug. 16. BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX rose between 0.9% and 1.7%.

Lithium miners Liontown Resources LTR.AX and Pilbara Resources PLS.AX rose 16.4% and 14.8%, respectively, and were among the top gainers.

Gold stocks .AXGD rose 2.2%, with Northern Star Resources NST.AX and Evolution Mining EVN.AX gaining 2.1% and 1.8%, respectively.

Financials .AXFJ fell 0.7%, with three of the "Big Four" banks down between 0.4% and 0.7%, while National Australia Bank NAB.AX was up 0.1%.

Energy stocks .AXEJ declined as much as 1.2% after oil prices settled lower overnight. Sector majors Woodside Energy WDS.AX and Santos STO.AX fell 1.5% and 1%, respectively. O/R

Overnight, the U.S. Dow Jones Industrial Average .DJI fell 0.23%. The S&P 500 .SPX gained 0.45%, while the Nasdaq .IXIC rose 0.84%.

Among individual stocks, Mineral Resources MIN.AX rose as much as 22.1% and was the top gainer on the benchmark, after it received an approval from the Foreign Investment Review Board to sell a 49% stake in its Onslow Iron Project's haul road.

REA Group REA.AX fell as much as 2.1% after Britain's Rightmove RMV.L rejected its 5.6 billion pounds ($7.32 billion) buyout proposal.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.1% to 12,644.39. Manawa Energy MNW.NZ rose 35.2% and was on track for its best day ever, after it received a NZ$1.86 billion ($1.14 billion) buyout offer from Contact Energy CEN.NZ.

($1 = 0.7652 pounds)

($1 = 1.6287 New Zealand dollars)



Reporting by Sherin Sunny in Bengaluru; Editing by Subhranshu Sahu

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