(Adds Resource Base, comments)
SYDNEY, Nov 23 (Reuters) - Australian shares were little
changed on Friday, though persistent credit worries saw major
banks decline for a fourth straight session, while blood
products group CSL Ltd <CSL.AX> extended gains on a broker
upgrade.
The benchmark S&P/ASX 200 index <.AXJO> edged down 3.5
points to 6,330.8 by 0036 GMT, after dropping a total of 3.1
percent in the previous three sessions. The index is on track is
post its sixth straight weekly loss.
New Zealand's benchmark NZX-50 index <.NZ50> nudged down 0.1
percent, or 2.95 points, to 4,051.27. The top stock, Telecom
Corp of New Zealand Ltd <TEL.NZ>, was up 1.2 percent at NZ$4.25.
STOCKS ON THE MOVE
* Resource Base Ltd <RBX.AX> fell on its trading debut,
declining as much as 15 percent below its issue price of A$0.20.
Shares in the gold exploration and production company opened
at A$0.195 before drifting lower to trade at A$0.17 by 0035 GMT.
* Worries about further fallout from the U.S. subprime
crisis pushed banking stocks lower for the fourth consecutive
session.
National Australia Bank Ltd <NAB.AX> fell 0.6 percent to
A$40.25 and Commonwealth Bank of Australia Ltd <CBA.AX> lost 0.5
percent to A$57.60.
Australia and New Zealand Banking Group Ltd <ANZ.AX> eased
0.1 percent to A$27.53 while Westpac Banking Corp <WBC.AX> fell
1.5 percent to A$26.85.
St George Bank <SGB.AX>, which traded ex-dividend on Friday,
fell 3.1 percent to A$34.29.
2354 GMT
* Major mining firms fell following a mixed performance in
base metals prices in London, with nickel and lead prices
slipping while copper bounced off an eight-month low
[ID:nL22434274].
BHP Billiton Ltd <BHP.AX>, the world's top miner and
Australia's top oil and gas producer, fell 0.6 percent to
A$40.20, while its main rival, Rio Tinto Ltd <RIO.AX>, slipped
0.2 percent to A$128.50.
2351 GMT
* CSL, the world's top maker of plasma products, rose 2.8
percent to A$33.15, adding to a 3.2 percent gain in the previous
session.
ABN AMRO on Thursday raised its rating on CSL to buy from
hold with a price target of A$34.50, citing recent weakness in
its share price.
2350 GMT
* Riversdale Mining Ltd <RIV.AX> dropped as much as 8
percent to A$9.40 after it announced a share placement of 25.3
million shares at a discounted A$9.30 each. It last traded down
4.9 percent at A$9.70.
2343 GMT
($1=A$1.15)
($1=NZ$1.33)
(Reporting by Geraldine Chua)
(([email protected]; +612 9373 1818; Reuters
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