SYDNEY (MarketWatch) — Australian shares traded flat in early Tuesday trading, following a weaker session for U.S. stocks amid fresh concerns about debt-stricken Europe. The benchmark S&P/ASX 200 was steady at 4,058.70. Among the notable movers, Newcrest Mining Ltd. dropped 3% after the gold miner cut its annual production forecast. Billabong International Ltd. shed 14.8%, adding to Monday’s 44% plunge after the surf and ski-wear retailer issued a profit warning.

Originally from MarketWatch