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* BHP rises on expectations of higher returns for shareholders
* Benchmark set for a fourth consecutive month of earnings
* Weak earnings advance on Wall Street
By Nikhil Nainan [19659002] July 31 (Reuters) – Australian stocks eased Tuesday in early trade, but they rose slightly, as BHP investors helped the market remain positive, staying close to its 2018 highs despite another negative advance from Wall Street.
The S & P / ASX 200 index rose 5.3 points, or less than 0.1%, to 6283.8 in 0202 GMT.
The benchmark fell 0.4% on Monday, but is expected to rise again for a fourth consecutive month, although technical analysis suggests that a correction could be due.
"But that suggests that there are impacts on the assessment that are holding back the global market and that in a technical sense it is the high-end for the moment," said Greg McKenna, chief strategist at CFD and supplier of FX AxiTrader. 19659002] BHP climbed to its highest level in nearly four years and was the biggest stimulus of the overall index, rising up to 1.7%.
"BHP gets credit for the sale of its shale assets.People remain hooked because they think that there will potentially be a management of capital like a buyout, or even higher dividends Said Mathan Somasundaram, a portfolio strategist of the Blue Ocean Equities market.In spite of the inevitable prospect of a strike at the Escondida mine in Chile, investors are holding their positions after the company has promised to return to the markets. shareholders the proceeds of its sale of US shale assets to BP Plc.
Workers of Escondida, the world's largest copper mine, should officially reject BHP's final bid for Here Wednesday after last week's meetings.
Telstra, which has faced significant headwinds this year, ranks among the top winners in the index, rising by more than 20,000. one percent and in good ie for a third consecutive session of winnings.
Monday, the telecommunications business under pressure announced a reshuffle of management, appointing a new chief financial officer and senior management of its infrastructure division, another step of a strategic reset.
Financial and energy stocks also contributed to index gains, with Westpac Banking and Woodside Petroleum among the top performers.
Wall Street fell overnight as US stocks again fought the defeat of tech stocks, which has been prolonged due to the disappointing results of the big players.
Down the index, the gold explorer Regis Resources was the biggest loser in percentage, down 13 percent as the company said a soft focus .
The New Zealand S & P / NZX 50 benchmark fell slightly by 0.1% or 12.03 points to settle at 8,909.35.
The heavyweights of the A2 Milk Company and Fletcher Building Index overcame losses, down 1.3% and 0.8%, respectively.
Fonterra said Tuesday that its total milk production in the region increased by 11 percent in June, highlighting the drop in world newspaper prices that have been reduced by increased production.
For more individual actions click on (Report by Nikhil Kurian Nainan, additional report by Ambar Warrick in Bengaluru, edited by Simon Cameron-Moore)
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