News: CBA Australia shares slip as gold, mining stocks weigh

July 11 - Australian shares slip on Monday, after weakness in commodity prices weighed on gold and mining stocks, and as investors braced for a U.S. inflation reading as well as domestic jobs data due this week.

The S&P/ASX 200 index (xjo) shed as much as 0.4% to 6654.3 by 0045 GMT. The benchmark index had fallen 0.6% last week.

Markets are keenly watching for data this week that could throw light on the path of monetary policy in the United States as well as Australia.

The June U.S. consumer price index data is due on Wednesday, while the domestic jobs report is expected on Thursday.

Gold stocks .AXGD led declines on the day, down 1.6%, as prices of bullion were pressured by the dollar's strength. Sector leaders Northern Star Resources (NST) and Newcrest Mining (NCM) gave up 1.6% and 1.2%, respectively.

Miners .AXMM followed suit, tumbling as much as 1.8%, after iron ore prices took a hit on renewed COVID-19 restrictions in the world's top steel producer China.

Rio Tinto (RIO) , BHP Group (BHP) and Fortescue Metals (FMG) shed between 0.5% and 2%.

Technology stocks .AXIJ also slipped 1%, with shares of buy now pay later firm Zip (ZIP) and accounting software producer Xero (XRO) falling as much as 4.7% and 1.9%, respectively.

Financials .AXFJ advanced 0.7% and were a bright spot. Commonwealth Bank of Australia (CBA) , National Australia Bank (NAB) , Australia and New Zealand Banking Group (ANZ) and Westpac Banking Corp (WBC) gained between 0.4% and 1%.

Link Administration (LNK) rose as much as 1.2%. The share registry firm said it was unable to recommend Canadian software firm Dye & Durham's DND.TO revised takeover bid of A$4.57 per share.

New Zealand's benchmark S&P/NZX 50 index (nz50) was largely unchanged, with investors focused on the Reserve Bank of New Zealand's rate decision due on Wednesday.

The central bank will deliver a third successive half-point interest rate hike this week in its most aggressive policy tightening on record, a Reuters poll found.