Australia shares rise as ANZ profit beats expectations; NZ down

[BENGALURU] Australian shares rose on Wednesday, with the index buoyed by Australia and New Zealand Banking Group's first-half profit beating expectations and energy stocks recouping losses from the previous session.

"While credit growth has obviously weighed on ANZ's profitability, the numbers themselves have been fairly positive. ANZ is sticking out as one of the better banks to own in Australia at the moment," said Chris Weston, head of research at Pepperstone brokerage.Shares of Australia's third largest lender ANZ rose as much as 3.5 per cent to the highest since March 4.Shares of the other"Big Four" banks rose in a range of 1.2 per cent to 2.9 per cent.

An uptick in commodity prices helped shares of global miner BHP Group and rival Rio Tinto to advance 0.3 per cent and 0.5 per cent, respectively.

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