Australia: Shares slip on weak mining, banks; NZ also soft

[SYDNEY] Australian shares fell 1.2 per cent on Friday as falling iron ore prices encouraged investors to sell mining stocks, putting the index on track for the second-largest weekly loss this year.

The S&P/ASX 200 index lost 69.6 points lower to end the session at 5,877.9 and was set to end the week 1.4 per cent weaker. It has been unable to break a key psychological level of 6,000 points.

New Zealand's benchmark NZX 50 index eased 0.3 per cent lower or 20.3 points to finish the session at 5,861.4.

REUTERS