Australia shares reverse early gains to end flat, Brambles, QBE slump

Tue Dec 10, 2013 12:20am EST

(Updates to close)

SYDNEY Dec 10 (Reuters) - Australian shares reversed gains to finish flat on Tuesday, with a slump in storage company Brambles and insurer QBE Insurance erasing early rises fueled by fresh record highs on Wall Street overnight.

Qantas Airways Ltd lost 3 percent to A$0.965, its lowest-ever closing level, after a profit downgrade.

The S&P/ASX 200 index finished at 5,143.6. The benchmark fell 0.8 percent on Monday.

New Zealand's benchmark NZX 50 index fell 0.3 percent to 4,706.5. (Reporting by Thuy Ong; Editing by Kim Coghill)