December 11, 2013 / 5:26 AM / in 4 years

Australia shares drop to 3-1/2 month low, Oz Minerals plunges

(Updates to close)
    SYDNEY, Dec 11 (Reuters) - Australian shares fell 0.8
percent to a 3-1/2-month low on Wednesday as big banks and
miners weighed on the market, while gold miners jumped on firmer
bullion prices.
    Oz Minerals, Australia's third-biggest copper
producer, finished down 15.2 percent at an 11-year low after
earlier diving as much as 31 percent after a disappointing
production forecast. 
    The S&P/ASX 200 index fell 39.4 points to 5,104.2,
its lowest level since August 30. The benchmark finished flat on
Tuesday and has fallen from a 5-1/2 year high of 5,457.3 hit on
Oct. 28 as investors fret over when the U.S. Federal Reserve
will begin to reduce its stimulus programme.
    New Zealand's benchmark NZX 50 index closed almost
flat at 4,704.3, shedding 2.2 points.

 (Reporting by Maggie Lu Yueyang; Editing by Eric Meijer)

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