Fortescue Ltd (FSUMF)

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Australian shares gave up early gains to end slightly lower, as weakness among retailers outweighed strength in the banking sector. The benchmark S&P/ASX 200 slipped 0.2 percent and the broader All Ordinaries index shed 0.1 percent. Miners ended on a mixed note, with BHP Billiton falling 0.6 percent and Forescue losing 1.3 percent, while Rio Tinto edged up marginally.

The big four banks gained ground, with ANZ, NAB and Westpac all rising around 0.3 percent, while Commonwealth advanced 0.7 percent. Shares of Bank of Queensland were in a trading halt ahead of a planned $450 million capital raising through a discounted share offering.

Retailers such as Woolworths and Wesfarmer fell between 0.2 percent and 0.3 percent, oil & gas producer Woodside Petroleum dropped 0.7 percent and Santos shed 0.4 percent. Qantas Airways rose 2 percent after the airline announced plans to set up a budget airline in China under a new management with China Eastern Airlines. Leighton Holdings rallied 2.7 percent on winning new contracts.