[BENGALURU] Australian shares pulled back from a more than 11-year high on Monday, as a slump in oil prices weighed on energy stocks and investors remained cautious ahead of bank earnings later this week.
A 3 per cent decline in oil prices on Friday dented energy stocks with the subindex posting a 1.5 per cent fall to hit its lowest level since April 18. Shares of Australia and New Zealand Banking Group and National Australia Bank Ltd dipped 0.7 per cent and 0.8 per cent, respectively. Shares of the retailer rose as much as 0.8 per cent to its highest since early February, while its larger competitor Woolworths Group dropped as much as 0.8 per cent.
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