You are here

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


[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.