Australian shares slip; Westpac, Macquarie go ex-dividend

Sun May 12, 2013 8:19pm EDT

(Updates with movements in early trade)

SYDNEY May 13 (Reuters) - Australian shares slipped 0.1 percent on Monday, dragged down by the banking sector as Westpac Banking Corp and Macquarie Group traded ex-dividend, though losses were capped by positive sentiment on the back of another Wall Street record run last week.

Westpac dropped 3.1 percent and investment bank Macquarie lost 2.7 percent.

The benchmark S&P/ASX 200 index fell 7.3 points to 5,198.8 by 0012 GMT. The index edged up 0.2 percent on Friday to close at a five-year high.

The Dow and S&P 500 ended at record highs on Friday, and stocks posted a third consecutive week of gains as a rise in Google and other technology shares offset a slide in energy stocks.

New Zealand's benchmark NZX 50 index was up 0.1 percent or 3.9 points at 4,656.6. (Reporting by Thuy Ong; Editing by Chris Gallagher)

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