Miners, energy stocks push Australian shares higher; Nine Entertainment top gainer

Feb 21 (Reuters) - Australian shares rose on Friday, driven by gains in miners and energy stocks on strong commodity prices, while Nine Entertainment NEC.AX emerged as the top gainer on the benchmark after 60%-owned Domain Holdings Australia DHG.AX received a buyout offer.

The S&P/ASX 200 index .AXJO was up 0.1% at 8,333.1 as of 0026 GMT. The benchmark has, however, lost 2.6% so far in the week.

Miners .AXMM climbed as much as 1.5% after iron ore prices closed higher overnight. IRONORE/

BHP Group BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX gained between 0.2% and 1.6% on Friday.

Energy stocks .AXEJ gained up to 1.5%, on the back of strong oil prices. O/R

Woodside Energy WDS.AX and Santos STO.AX were up 0.6% and 1.1%, respectively.

Financials sub-index .AXFJ advanced by 0.1%, with National Australia Bank NAB.AX, Westpac WBC.AX and Commonwealth Bank of Australia CBA.AX up between 0.3% and 0.6%.

Shares of newspaper publisher and free-to-air television network owner Nine Entertainment were up at 20.5%, to record its highest level since March 25, 2024.

Nine Entertainment, which owns 60% of Australia's Domain Holdings, was offered to be bought by U.S. online real estate firm CoStar CSGP.O in a deal that values it at A$2.65 billion ($1.70 billion).

On the earnings front, Sydney-based QBE Insurance QBE.AX advanced by 8% to record its highest level in fifteen years, as full-year results beat analysts' estimates.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.7% to 12,790.99.

Shares of dairy giant Fonterra FCG.NZ were up 3.5% after it forecast its earnings to meet the upper half of its fiscal 2025 outlook, while hinting at paying a strong interim dividend.

($1 = 1.5615 Australian dollars)

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