Reuters: Hot Stocks: Australia shares fall 0.5 pct; Fairfax, Sundance jump

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Australia shares fall 0.5 pct; Fairfax, Sundance jump Dec 30th 2012, 23:41 Tweet Share this Email Print Related Topics Basic Materials » Cyclical Consumer Goods » Sun Dec 30, 2012 6:41pm EST (Updates with opening levels) SYDNEY, Dec 31 (Reuters) - Australian shares fell 0.5 percent in early trading on Monday, with big miners and banks losing grounds as investors waited on the outcome of a last-chance round of U.S. budget talks ahead of the New Year's holiday. Shares in Fairfax Media Ltd jumped more than 5 percent after a consortium of allies of shareholder Gina Rinehart purchased a small holding to add to the mining mogul's stake. Sundance Resources Ltd soared more than 14 percent after media reported China's Hanlong Group would finalize its takeover by March 1. The benchmark S&P/ASX 200 index fell 23.2 points to 4,647.3 at 2318 GMT. It rose 0.5 percent to 4,671.3 on Friday, its highest close since June 2, 2011. New Zealand's benchmark NZX 50 index fell 0.3 percent to 4,069.8. Both the Australian and New Zealand markets will have shortened sessions on Monday, New Year's Eve. The Australian market is up 14.6 percent in 2012, while the NZ market has risen 24.2 percent. (Reporting by Maggie Lu Yueyang; Editing by John Mair) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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