Reuters: Hot Stocks: Australia shares pull back from 5-yr high, ANZ buffers

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Australia shares pull back from 5-yr high, ANZ buffers Oct 29th 2013, 05:21 Tweet Share this Email Print Reprints Related Topics Basic Materials » Cyclical Consumer Goods » Energy » Non-Cyclical Consumer Goods » Tue Oct 29, 2013 1:21am EDT SYDNEY, Oct 29 (Reuters) - Australian shares fell 0.5 percent on Tuesday, pulling back from five-year highs as buying momentum paused ahead of the outcome of the U.S. Federal Reserve's policy-setting meeting this week. Global miners BHP Billiton Ltd and Rio Tinto Ltd hobbled the market, falling 0.7 percent and 1.5 percent respectively, as China's iron ore futures dropped for a seventh straight session on a sluggish steel market. The S&P/ASX 200 index lost 25.9 points to 5,415.5. The benchmark jumped 1 percent on Monday to touch a five-year high at 5,457.3. The pullback was somewhat contained by Australia and New Zealand Banking Group, which ended 1.2 percent higher on the back of a strong earnings report. It hit a record high of A$34.06 during the session. Shares in Warrnambool Cheese and Butter Factory Company Holdings Ltd (WCB) surged 5.3 percent, fueling expectations of a new takeover bid for the Australian dairy company. New Zealand's benchmark NZX 50 index inched down 0.2 percent to close at 4,852.6. (Reporting By Maggie Lu Yueyang; Editing by Shri Navaratnam) 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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