Australia shares close modestly lower, most sectors down

Tue Jun 24, 2014 2:15am EDT

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SYDNEY, June 24 (Reuters) - Australian shares slipped 0.4 percent on Tuesday, following Wall Street lower as investors sold local equities across the board, outweighing a jump in department store operator David Jones Ltd, a takeover target.

The S&P/ASX 200 index lost 20.5 points to 5,432.8 at the close of trade. The benchmark closed 0.6 percent higher on Monday.

New Zealand's benchmark NZX 50 index slipped 0.1 percent or 5 points to 5,121.2. (Reporting by Thuy Ong; Editing by Richard Borsuk)

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