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Aug 3 (Reuters) - Australian shares fell on Thursday, as disappointment over Rio Tinto (LON:RIO)'s earnings pressured materials while bank stocks fell after Commonwealth Bank of Australia was accused of money laundering breaches.
The S&P/ASX 200 index .AXJO fell 9.1 points, or 0.2 percent, to 5,735.1 at the close of trade. The benchmark fell 0.5 percent on Wednesday.
Commonwealth Bank of Australia CBA.AX dipped 0.3 percent. In the first case of its kind against a major bank, the country's biggest mortgage lender was accused by the financial intelligence agency AUSTRAC of contravening money-laundering and counter-terrorism financing rules. Tinto RIO.AX slipped 2.5 percent after the global miner reported a 152 percent leap in half-year underlying earnings but still missed analyst expectations. Suncorp Group SUN.AX reported a rise in annual profit which was slightly below expectations. Shares of the second-largest insurer by market share plunged as much as 7 percent to a three-month low.
Consumer discretionary stocks were among the few sectors in the black with Flight Centre Travel Group FLT.AX and Southern Cross Media Group SXL.AX among the best performers.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 5.44 points, or 0.07 percent, to finish the session at 7,753.75.
Consumer discretionary stocks fell the most in New Zealand but specialist outdoor retailer Kathmandu Holdings Ltd KMD.NZ was among top percentage gainers in the benchmark, ending 2.9 percent higher, after reporting a rise in annual sales.