* ASX 200 down 0.2 percent, banks and miners fall
* NAB business confidence survey at 5-month high
* Pending U.S. earnings season prompts caution
(Adds analysis, quotes, stocks on the move)
By Thuy Ong and Gyles Beckford
SYDNEY/WELLINGTON, July 8 Australian shares
slipped 0.2 percent on Tuesday, pressured by big name banks as
Wall Street fell overnight, while a drop in metal and oil prices
constrained resource sector stocks.
The banking sector fell for a second day after robust gains
last week. No. 3 lender Australia and New Zealand Banking Corp
lost 0.8 percent and National Australia Bank,
the top lender by assets, dropped 0.7 percent.
The S&P/ASX 200 index declined 10.3 points to
5,508.6 by 0218 GMT. On Monday, the benchmark fell 0.1 percent.
The NAB Business Confidence index hit the highest level in
five months in June, though that "failed to spark much buying
interest," William Leys, sales trader at CMC Markets, said in a
He said the pending U.S. earnings season "has prompted
buying caution as full valuations mean expectations are high."
U.S. stocks on Monday retreated from last week's record
level on hesitancy to make big bets before earnings season.
Energy stocks were lower as Brent and U.S. crude oil futures
fell overnight to the lowest levels in a month as supply in Iraq
remained unaffected by violence sweeping the OPEC country.
Australia's top oil producer Woodside Petroleum Ltd
dropped 1.1 percent and Oil Search Ltd 0.8 percent.
Copper edged off a 4-month peak overnight as investors took
profits, though lingering supply concerns kept a floor under
prices. BHP Billiton Ltd and Iluka Resources Ltd
both fell 0.6 percent.
APN News & Media Ltd climbed 1.7 percent after
confirming a printing deal with Fairfax Media Ltd in
Auckland. Fairfax was flat.
Altona Mining Ltd bounced almost 30 percent to its
highest since March 2013 of A$0.22, having sold its Finnish
assets for A$101 million. It said it intends to make a cash
payment to shareholders of A$0.15 per share.
The New Zealand share market was softer but with no
particular driving force with the benchmark NZX-50 index
was 14.77 points or 0.29 percent lower at 5,171.59.
Retirement village operator Summerset Ltd was down
2.1 percent at NZ$3.30, and software company Xero Ltd
was off 1.9 percent to NZ$26.00.
New Zealand Oil and Gas Ltd was down 2.5 percent at
NZ$0.79. It said a joint venture of had been given the right to
explore for "unconventional" oil and gas resources in Indonesia.
(Reporting by Thuy Ong; Editing by Richard Borsuk)