News: GMG Australian shares on track to snap losing streak; CPI in focus

June 27 (Reuters) - Australian shares are on track to snap a four-session losing streak on Tuesday, with banks taking the lead, while investors awaited local inflation and retail sales data due later in the week for economic cues.

The S&P/ASX 200 index (xjo) was up 0.5% at 7,111.5 points by 0048 GMT. The benchmark closed 0.3% lower on Monday.

Analysts at top banks in Australia expect inflation in May to have declined from the prior month as investors begin to shift focus towards domestic jobs and retail sales data during the course of the week.

On the benchmark, heavyweight financials .AXFJ emerged as the top gainer in a high cash rate environment, adding 0.8%.

All "Big Four" banks traded in green, with the country's biggest lender Commonwealth Bank of Australia (CBA) rising 1.2%.

Miners .AXMM added 0.4%, with iron ore giants BHP Group (BHP) , Rio Tinto (RIO) and Fortescue Metals Group (FMG) gaining between 1.1% and 0.3%.

Real estate stocks .AXRE jumped 1.8%, with property major Goodman Group (GMG) adding nearly 2% to the sub-index.

Gold stocks .AXGD jumped about a percent on the back of a firmer bullion prices, as concerns surrounding the political turmoil in Russia drove flows into the safe-haven commodity.

Sector majors Newcrest Mining (NCM) and Northern Star Resources (NST) added 2% and 1.4%, respectively.

Energy companies .AXEJ tracked overnight oil prices higher. Oil and gas majors Woodside Energy (WDS) and Santos (STO) added 0.3% and 0.1%, respectively.

Collins Foods (CKF) was the top gainer on the benchmark, rising 12.7%, as the KFC merchant posted impressive same-store sales to start its financial year.

Shares in Sonic Healthcare (SHL) gained 2.7% after it said it would acquire SYNLAB SYAB.DE Group's Swiss laboratory network for 150 million Swiss francs ($167.45 million).

Australia's banking regulator told the country's largest private health insurer Medibank (MPL) to set aside A$250 million ($167.35 million) in extra capital post a review of the company's cyber incident last October, sending shares down 3.2%.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.1% to 11,625.1 points.

($1 = 0.8958 Swiss francs) ($1 = 1.4939 Australian dollars)