Reuters: Hot Stocks: Australia shares dip as NAB tumbles, but up 4 pct for the month

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Australia shares dip as NAB tumbles, but up 4 pct for the month Oct 31st 2013, 05:31 Tweet Share this Email Print Reprints Related Topics Basic Materials » Non-Cyclical Consumer Goods » Thu Oct 31, 2013 1:31am EDT SYDNEY, Oct 31 (Reuters) - Australian shares edged down 0.1 percent on Thursday, weighed down by losses in the financial sector after National Australia Bank slumped on concerns about its British business, but ended the month 4 percent higher to hover at five-year highs. NAB, the country's top lender by assets, tumbled 2.5 percent after it reported a record annual profit but analysts said its earnings potential had been constrained by its struggling British businesses. The S&P/ASX 200 index dropped 5.4 points to 5,425.5, after rising 0.3 percent on Wednesday. Investors were also cautious after Wall Street lost ground on Tuesday as the U.S. Federal Reserve's latest policy outlook was seen as steering clear of some of the more ultra-dovish market views. New Zealand's benchmark NZX 50 index added 0.9 percent to a record high of 4,909.7. (Reporting by Maggie Lu Yueyang,; Editing by Chris Gallagher) Non-Cyclical Consumer Goods 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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