ASX 200 closes flat Gold stocks lose for fourth consecutive day...

	  ASX 200 closes flat 

Gold stocks lose for fourth consecutive day

	  NAB expects the RBA to hike rates till 4.6% 

	  June employment beats estimates 

(Updates to close)

Australian shares struggled for direction on Thursday as a slump in gold stocks capped the gains in financial stocks, while higher June employment data raised expectations of a rate hike by the country's central bank next month.

The S&P/ASX 200 index (xjo) ended flat at 7,325.00 after closing 0.6% higher on Wednesday.

Data showed that employment beat expectations for a second straight month in June, rising by 32,600 from May, when it had surged by a disproportionately strong 76,600.

"Higher inflation and a tight labour market are likely enough for the RBA to go for at least one more hike this year," said Kerry Craig, global market analyst at J.P. Morgan.

Meanwhile, National Australia Bank said in a note that it expects the RBA to hike rates to 4.6% but awaits inflation data due next week before making any predictions for the Aug. 1 meeting.

Gold stocks .AXGD fell 1.6% to log their fourth straight session of losses.

Heavyweights Northern Star Resources (NST) dropped 6.6% and Newcrest Mining (NCM) slid 0.4%.

Financial stocks .AXFJ rose 0.4% to stage an eight-day winning streak. Commonwealth Bank of Australia (CBA) and Westpac (WBC) rose 0.6% and 0.3%, respectively.

Among individual stocks, BHP Group (BHP) posted its highest-ever annual iron ore production, helped by a sustained ramp-up at its South Flank operations in Western Australia but flagged rising costs, sending the miner's shares down 0.1%

Oil and gas explorer Santos (STO) trimmed the top end of its production forecast range for fiscal year 2023 after posting a nearly 29% drop in second-quarter revenue. Its shares fell 0.1%.

Flight Centre's (FLT) shares marked their biggest intraday percentage gain since Feb. 1 after the travel retailer raised its annual underlying operating earnings forecast, citing strong performance.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.1% to finish the session at 11,932.1.