2013.08.1302:49:21UTC+00Australia stocks swing down on bank weakness; miners surge

Australian stocks slightly moved early Tuesday, as advances in the equity benchmark were limited by weakness in banks, retailers and energy companies. The S&P/ASX 200 inched up 0.1% to 5,113.70, with mining issues modestly building on recent advances triggered by favorable data from key natural-resources buyer China. Shares of diversified miners BHP Billiton Ltd. and Rio Tinto Ltd. both climbed 0.2% and 0.5%, respectively, and iron-ore producer Fortescue Metals Group Ltd. tacked on 0.4%. But gold producer Newcrest Mining Ltd. shares slumped 2.4%, giving back a portion of Monday's jump of 7.9%. In other moves, shares of Stockland relinquished 1.4% after the developer and real estate investor displayed a sharp 79% decline in full-year profit.