Reuters: Hot Stocks: Australian shares fall, tracking Wall St; Cochlear dives

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 fall, tracking Wall St; Cochlear dives Jun 3rd 2013, 00:23 Sun Jun 2, 2013 8:23pm EDT SYDNEY, June 3 (Reuters) - Australian shares fell 0.6 percent on Monday to a two-month low after Wall Street dropped due to global index rebalancing and profit-taking, while weaker copper and iron ore prices hit mining stocks. BHP Billiton Ltd and Rio Tinto Ltd dropped 1.6 percent and 1.1 percent respectively. The S&P/ASX 200 index lost 31.5 points to 4,895.1 by 0009 GMT, hitting its lowest point since early April. The benchmark slipped 0.1 percent on Friday. Investors await a slew of local economic figures due later in the day. Cochlear Ltd dived 9.6 percent to a 15-month low of A$58.30. The world's biggest maker of hearing implants, warned its 2013 full-year net profit would fall as much as 18 percent hit by weaker sales in the second half and slower market growth in the United States. New Zealand's benchmark NZX 50 index climbed 0.9 percent or 40.8 points to 4,511.4. (Reporting by Thuy Ong; Editing by Edwina Gibbs)

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