(Reuters) - Australian shares ended lower on Monday, with Westpac's results weighing on the benchmark as the lender's net profit result missed expectations and pointed to difficult conditions ahead.
Australia's S&P/ASX 200 index <.AXJO> ended down 0.1 percent, or 6.08 points, at 5953.8.
Westpac Banking Group <WBC.AX> reported a 3 percent rise in annual cash profit for the year ended Sept. 30, narrowly missing forecasts and sending the shares to close down 2.2 percent after touching the lowest in nearly a month.
Other "Big Four" banks followed suit, falling from 0.5 percent and to 0.7 percent and taking their place among the top decliners.
Australia and New Zealand Banking Group Ltd <ANZ.AX> said it would close its retail banking business in the Philippines as big Australian banks try to shed capital-intensive assets as capital adequacy rules become more onerous.
Materials dragged, with the metals and mining stocks index <.AXMM> falling 0.2 percent.
Gold held steady on Monday, but hovered near the one-week low hit in the previous session. [GOL/] The gold index <.AXGD> slipped 0.7 percent with gold miners Newcrest Mining <NCM.AX> and St Barbara <SBM.AX > both losing more than 1 percent.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> fell 11.49 points or 0.1 percent to 8053.63, dragged by consumer staples and IT stocks.
A2 Milk Company <ATM.NZ> was the biggest decliner, shedding 2.1 percent as global dairy prices fell, followed by accounting platform Xero <XRO.NZ> closing 2 percent lower.
The Reserve Bank of New Zealand is all but certain to hold interest rates at record lows this week to support a slowing economy as markets wait for the new government to map out its policies, including planned changes to the central bank's mandate.
(Reporting by Devika Syamnath in Bengaluru; Editing by Eric Meijer)
