2013.04.1801:56:26UTC+00Australia mining stocks push the market decline

Stocks in Australia diminish in the early Thursday trading action, with the S&P/ASX 200 missing 0.4% to 4,983.30 after closing the previous session with a 1.1% increase. The large miners were among the big droppers after sharp drops for copper futures, spot iron ore and other commodities overnight. Shares of BHP Billiton Ltd. back down 2.8%, while those for Rio Tinto Ltd. surrendered 2.9%, with the pair also weighed by a price-target cut at UBS, which still kept a purchase rating on the stocks. Fortescue Metals Group Ltd. gave up 3% even as it displayed a 1% boost in quarterly iron-ore shipments, while Newcrest Mining Ltd. dive 2.9% after gold futures continued their losses in New York trade Wednesday. Among the winners early Thursday, retailer Harvey Norman Holdings Ltd. surged 4.7%, extending gains in the wake of its third-quarter sales results.