Reuters: Hot Stocks: Australia shares drop on weak commodities, gold miners fall

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Australia shares drop on weak commodities, gold miners fall Apr 15th 2013, 00:34 Tweet Share this Email Print Sun Apr 14, 2013 8:34pm EDT (Updates to open) SYDNEY, April 15 (Reuters) - Australian shares dropped 0.9 percent early on Monday, following a sharp drop in commodities prices, and as investors awaited cautiously for a slew of data from China, including GDP figures, due out later in the session. Miners were hit by weaker commodities prices, with gold miners particularly hard hit after gold prices sank on Friday. Australia's biggest gold miner Newcrest Mining Ltd plunged 5.9 percent. The S&P/ASX 200 index had lost 43.1 points to 4,970.4 by 0023 GMT. The benchmark edged up 0.1 percent on Friday. China will release a slew of key economic data on Monday, including GDP, industrial production and retail sales. Domestic investors will be keenly watching out for clues on the health of the world's second largest economy, which is Australia's biggest export market, and big importer of the country's resources. New Zealand's benchmark NZX 50 index shed 1.0 points to 4,434.8. (Reporting By Maggie Lu Yueyang; Editing by Shri Navaratnam) 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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