Australian shares lower; New Zealand up

Australian shares closed marginally lower on Thursday as a rally in the materials sector due to a rise in metals prices was offset by losses in financial stocks after National Australia Bank (NAB) flagged restructuring charges. The S&P/ASX 200 index which touched a two-and-a-half year high in early trade reversed gains to close down 0.1 percent or 6.066 points at 5,931.7. The benchmark had risen 0.49 percent to a near 6-month high on Wednesday.
Shares of NAB, Australia's largest business lender, ended 2.8 percent down after the company said it would incur restructuring charges of A$500 million ($385.55 million) to A$800 million. The bank added it would shed a net 4,000 jobs in the next three years. New Zealand's benchmark S&P/NZX 50 index rose 0.4 percent or 29.25 points to finish the session at 8,083.06.