Reuters: Hot Stocks: Australian shares drop on Cyprus deal uncertainty

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australian shares drop on Cyprus deal uncertainty Mar 17th 2013, 23:14 Sun Mar 17, 2013 7:14pm EDT SYDNEY, March 18 (Reuters) - Australian shares dropped 1.7 percent on Monday as uncertainty about the impact of a proposed bailout for Cyprus, an end to the Dow Jones industrial average's 10-day rally and weak metal prices hit mining and financial stocks. The benchmark S&P/ASX 200 index lost 86.8 points to 5,033.4 by 2309 GMT. The benchmark had added 1.8 percent on Friday, its biggest one-day rise in eight months. New Zealand's benchmark NZX 50 index was down 0.8 percent at 4,351.3. (Reporting by Thuy Ong; Editing by John Mair)

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