* CBA and ANZ produce solid gains
* Materials fall on lower copper prices
* NZ slips marginally
(Updates to close)
June 18 (Reuters) - Australian shares finished slightly higher on Monday as gains in financials and real estate stocks outweighed a fall in materials stocks on lower commodities prices.
The S&P/ASX 200 index .AXJO erased small early losses to close 0.2 percent or 10.10 points higher at 6,104.100. The benchmark rose 1.3 percent on Friday.
Banks led the gainers, with the financial index .AXFJ rising 0.8 percent to its highest since May 29.
Damian Rooney, director of equity sales at Argonaut, said banking stocks might be benefiting from a weaker Aussie dollar.
The Australian and New Zealand dollars softened to multi-month lows on Monday. AUD/
Index heavyweight Commonwealth Bank of Australia CBA.AX firmed 1 percent to its highest since June 6, while Australia and New Zealand Banking Group Ltd ANZ.AX jumped 1.4 percent to a near three-week high.
Real estate stocks also advanced, with Goodman Group Pty Ltd GMG.AX rising 2.1 percent to its highest in nearly 10 years.
Materials accounted for most of the losses as copper prices extended their slide.
Global miner BHP BHP.AX fell 2.4 percent to its lowest since June 5 and rival Rio Tinto (LON:RIO) Ltd RIO.AX slid about 2 percent.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 slipped fractionally, shedding 1.52 points to finish the session at 8,974.23.
Consumer staples and industrials stocks led declines, with dairy firm a2 Milk Company Ltd ATM.NZ slipping 1.7 percent, and Auckland International Airport Ltd AIA.NZ fell 1.5 percent to a near two-week low.