Australia shares slip, New Zealand index at 5-year high

Mon Jan 7, 2013 5:25am GMT

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(Updates to close)
    SYDNEY, Jan 7 (Reuters) - Australian shares slipped 0.1
percent on Monday, paring early gains as investors consolidated
the recent rally on U.S. data showing a steady pace of jobs
growth and brisk expansion in the services sector.
    Major banks ended the day moderately higher with Australia
New Zealand Banking Group Ltd leading gains, up 0.6
percent. The Commonwealth Bank of Australia bucked the
trend, dropping 1 percent after hitting an all-time high of
A$63.70 during morning trade. 
    The S&P/ASX 200 index was 6.5 points lower at
4,717.3, according to the latest data. It fell 16.9 points on
Friday after reaching 19-month highs.
    New Zealand's benchmark NZX 50 index rose 0.2
percent to 4,084.8 to close at a 5-year high.
    

 (Reporting By Thuy Ong; Editing by Jacqueline Wong)