2013.06.0401:43:27UTC+00Australia stocks pull back to 4-month low; rate decision due

Stocks in Australia dipped early Tuesday, with banking shares mostly lower ahead of an interest-rate decision by the Reserve Bank of Australia. The S&P/ASX 200 gave up 0.2% at 4,879.20, a day after finishing at its worst level in four months. In the heavily weighted financials sector, shares of Macquarie Group Ltd. decreased by 1.5% and Westpac Banking Corp. traded 0.5% lower, though National Australia Bank Ltd. jumped by 0.4%. Mining stocks were solidly higher following gains in some metal prices, with gold producer Newcrest Mining Ltd. up 2.1%. The Australian dollar purchased 97.58 U.S. cents compared with 97.50 U.S. cents on Monday. Most economists expect Australia's central bank to hold the key interest rate at 2.75%, and indicate that future rate trims are possible. In other developments Tuesday, Billabong International Ltd. said talks about a takeover of the sportswear company have ended, and it's now turning to discussions about alternative financing strategy and asset sale transactions. Billabong is also looking to have its shares resume trading.