Reuters: Hot Stocks: Australian shares fall at open, miners weak

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Australian shares fall at open, miners weak Feb 20th 2013, 23:34 Tweet Share this Email Print Wed Feb 20, 2013 6:34pm EST SYDNEY, Feb 20 (Reuters) - Australian shares fell 0.7 percent early on Thursday, with mining stocks down after gold, equities and resource-linked currencies were knocked lower by talk that a hedge fund had been liquidating positions in commodities. BHP Billiton Ltd dropped 2.9 percent and rival Rio Tinto LTD was 2.6 percent lower. The benchmark S&P/ASX 200 index had lost 32.2 points to 5,066.5 by 2323 GMT. The benchmark rose 0.3 percent on Wednesday to a 4-1/2 year high. Better-than-expected corporate earnings have added momentum to a sustained rally, with the market up about 17 percent since mid-November. New Zealand's benchmark NZX 50 index was down 0.2 percent, or 6.8 points to 4,207.4. (Reporting by Thuy Ong; 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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