Reuters: Hot Stocks: Australia shares turn lower, hurt by Westpac, Fed uncertainty

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

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Australia shares turn lower, hurt by Westpac, Fed uncertainty Nov 4th 2013, 05:17 Mon Nov 4, 2013 12:17am EST SYDNEY Nov 4 (Reuters) - Australian shares reversed earlier gains to fall 0.4 percent on Monday as selling in major lender Westpac and uncertainty over the U.S. Federal Reserve's stimulus programme offset better-than-expected retail sales and house price figures. Westpac Banking Corp lost 1.1 percent after reporting an 8 percent rise in full-year cash earnings and a 30 percent fall in bad debts. Investors worried the country's second-biggest bank by market value is losing out in a price war over residential mortgages. The S&P/ASX 200 index fell 20.6 points to finish at 5,390.5. The benchmark slipped 0.3 percent on Friday, but ended the month 4 percent higher. New Zealand's benchmark NZX 50 index slipped 0.1 percent to finish the session at 4,910.7. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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