February 10, 2013 / 11:31 PM / 4 years ago

Australia shares drift lower; JB Hi-Fi surges

1 Min Read

(Updates with opening levels)

MELBOURNE, Feb 11 (Reuters) - Australian shares opened slightly lower on Monday, nudging back from a 34-month closing high touched in the previous session, as metal prices and Wall Street eased.

Shares in electronics retailer JB Hi-Fi Ltd jumped 12.4 percent to a one-year high after the chain posted a first-half net profit rise of 3.1 percent and a solid start to the year with same-store sales growth of 4.2 percent in January.

The benchmark S&P/ASX 200 index slipped 2.8 points to 4,968.5 at 2314 GMT. The index jumped 1 percent last week.

New Zealand's benchmark NZX 50 index fell 4.1 points to 4,221.7. (Editing by Lincoln Feast and Shri Navaratnam)

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