Corrects paragraph 9 to say crude prices fell on Friday, not rose
July 21 (Reuters) - Australian shares slipped in broad-based selling on Monday, with banks and miners leading the decline, while South32 rose after the diversified miner reported fourth-quarter manganese output ahead of analysts' estimates.
The S&P/ASX 200 index .AXJO fell 0.6% to 8,700.80 by 0023 GMT. The benchmark rose 2.1% last week in its strongest weekly performance since April.
Globally, investors were hoping for some progress in trade talks ahead of U.S. President Donald Trump's August 1 tariff deadline. MKTS/GLOB
In Sydney, miners .AXMM fell 0.4% on Monday after gaining 1.7% last week. Shares of mining major BHP BHP.AX were down 0.2%.
Outperforming the mining sub-index, South32 S32.AX rose more than 2% after the world's largest producer of manganese clocked an output of 1.1 million wet metric tons of manganese for the quarter ended June 30. The result beat a Visible Alpha consensus estimate of 850,000 wmt, as per Barrenjoey.
Financials .AXFJ dropped 0.8% after rising 1.6% last week, with the "Big Four" banks down between 0.6% and 1.1%.
Gold stocks .AXGD declined more than 1%. Northern Star Resources NST.AX and Genesis Minerals GMD.AX lost 0.5% and 1.5%, respectively.
Energy stocks .AXEJ fell 0.3%. Woodside Energy WDS.AX was down 0.3%, while Santos STO.AX edged 0.1% lower.
Brent crude futures LCOc1 rose 5 cents to $69.33 a barrel after settling 0.35% lower on Friday. U.S. West Texas Intermediate crude CLc1 was up 2 cents at $67.36 a barrel, following a 0.30% decline in the previous session. O/R
Information technology stocks .AXIJ dropped 0.3%. WiseTech Global WTC.AX declined 0.2%, while Xero's Australian shares XRO.AX shed 0.7%.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.2% to 12,905.69.
Data showed the country's annual consumer inflation accelerated in the second quarter but came in below economists' forecasts.
The Reserve Bank of New Zealand, which in May forecast annual inflation for the quarter at 2.6%, held interest rates steady at this month's policy meeting partly due to near-term price risks.
(Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu)
((Roshan.Thomas@thomsonreuters.com))
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