Reuters: Hot Stocks: Australia shares fall on banks, but close week higher

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Australia shares fall on banks, but close week higher Aug 16th 2013, 06:18 Fri Aug 16, 2013 2:18am EDT SYDNEY Aug 16 (Reuters) - Australian shares fell 0.8 percent on Friday, as Australia and New Zealand Banking Group Ltd's disappointing growth outlook compounded the dour mood from a sharp decline on Wall Street amid growing concerns the U.S. Federal Reserve will start to trim its stimulus soon. The S&P/ASX 200 index finished the session 38.5 points lower at 5,113.9. The benchmark however rose 1.1 percent for the week. New Zealand's benchmark NZX 50 index fell 0.4 percent or 16.4 points to finish the session at 4,513.9. Trading on the NZX was briefly suspended after an earthquake hit Wellington. (Reporting by Thuy Ong; Editing by Himani Sarkar)

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