Travel stocks jump on news of support package Gold stocks hit...

• Travel stocks jump on news of support package
• Gold stocks hit 10-day high

Australian shares tracked global markets higher on Thursday, as inflation concerns eased after a report on U.S. consumer prices, while domestic travel stocks surged on expectations of a government package to support the sector.

A U.S. Congressional approval to a $1.9-trillion COVID-19 relief package also aided sentiment.

The S&P/ASX 200 index (xjo) gained 0.2% to 6,731.1 by 2304 GMT. The benchmark closed 0.8% lower on Wednesday.

Travel-related stocks surged as Prime Minister Scott Morrison is set to announce a A$1.20 billion ($927.8 million) package which includes subsidised domestic flights, financial support to its two main airlines and cheap loans to small tourism operators.

Flight Centre Travel Group (FLT) jumped 10.9%, Webjet (WEB) rose 6% and Qantas (QAN) added 3.2%.

Elsewhere, the U.S. Labour Department said its consumer price index (CPI) rose 0.4% in February, in line with expectations, while core CPI edged up 0.1%.

That helped the Dow Jones Industrial Average .DJI hit a record high. The S&P 500 .SPX gained 0.60% overnight, while Nasdaq .IXIC ended roughly flat.

Back home, Australian financial stocks .AXFJ rose 0.4%, led by Janus Henderson Group (JHG) , up 2.4%, while Insurance Australia Group (IAG) advanced 1.3%.

A sub-index of gold stocks .AXGD added 0.5% after bullion prices hit a one-week high. Top performers were Chalice Mining (CHN) and De Grey Mining (DEG) , rising 3.7% and 3.4%, respectively.

Energy stocks .AXEJ rose 0.2%, with Beach Energy (BPT) and Ampol (ALD) gaining 1.8% and 1.2%, respectively.

Oil prices rose on Wednesday after an upbeat forecast for global economic recovery and lower U.S. gasoline inventories.

Mining stocks .AXMM fell 0.4%, however, weighed down by BHP Group (BHP) and Capricorn Metals (CMM) .

In New Zealand, the benchmark S&P/NZX 50 index (nz50) was up 0.5% at 12,315.46.

The top percentage gainers on the index were Air New Zealand (AIR) and Arvida Group (ARV) , which rose 2.4% each. ($1 = 1.2933 Australian dollars)