You are here

Australia: Shares retreat from 6,000 barrier as iron ore slumps

AUSREUTERS0606.jpg

[SYDNEY] Australian shares fell 0.2 per cent on Tuesday as investors backed away from testing 6,000 points on the benchmark index, selling mining stocks like BHP Billiton and Rio Tinto amid a slump in iron ore prices.

The S&P/ASX 200 index slipped 13.7 points to 5,946.6, its second straight decline. Since hitting 5,996.9 in early March, the index has failed in a few attempts to break through the key psychological barrier of 6,000.

New Zealand's benchmark NZX 50 index rose 27.8 points or 0.5 per cent to finish the session at 5882.1.

REUTERS