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Nov 14 (Reuters) - Australian shares ended lower for a third straight day on Tuesday, as weak oil prices and an equity stake sale in Woodside Petroleum Ltd WPL.AX dampened sentiment.
The S&P/ASX 200 index .AXJO closed down 0.9 percent, or 53.072 points, to 5,968.7, led by broad-based losses in financials and commodities. The benchmark shed 0.1 percent in the previous session.
Oil prices dipped as the prospect of further rises in U.S. output undermined ongoing OPEC-led production cuts aimed at tightening supply. O/R
Royal Dutch Shell RDSa.L sold its entire stake in Woodside Petroleum for $2.7 billion, selling 111.8 million shares at A$31.10 ($23.79) apiece compared with the closing price on Monday of A$32.24. of Woodside Petroleum, Australia's largest independent oil and gas company, ended 3.2 percent down at A$31.2.
Other large LNG plays may also come under pressure as a domestic funding source for Woodside's divestment, said RBC Capital Markets in a note.
Accordingly, oil and gas heavyweights Origin Energy ORG.AX and Santos Ltd STO.AX lost 1.1 percent and 2.4 percent each.
Among other decliners, the country's "Big Four" banks were the top losers on the benchmark, shedding between 1 percent and 1.5 percent, with National Australia Bank NAB.AX scraping its lowest in more than two months.
New Zealand's benchmark S&P/NZX 50 index .NZ50 closed 0.4 percent, or 31.57 points higher at 8,008, with healthcare and telecom stocks leading gainers.
Medical device maker Fisher & Paykel Healthcare Corp FPH.AX closed at an all-time high after a British court ruled that a patent held by rival Resmed Inc RMD.N as invalid on Monday.