2013.05.1002:44:22UTC+00Aussie stocks dip, but targets weekly gain

Australian equities drop in early trading Friday action, with losses in some resource stocks weighing on the benchmark index. The S&P/ASX 200 skid 0.2%. Mining shares were mixed following a pullback in metals prices on U.S. dollar strength. Newcrest Mining Ltd. gave up 1.5% and Fortescue Metals Group Ltd. boost 0.3% and Rio Tinto Ltd. turned  0.1% higher. The company held its annual general meeting on Thursday. Financials were mixed, with Australia & New Zealand Banking Group surrenders 0.4%, while Commonwealth Bank of Australia moved 0.8% higher. In the currency market, the Australian dollar neared parity versus the U.S. dollar overnight as the dollar climbed versus major rivals after an upbeat reading on U.S. weekly unemployment claims. The Aussie on Friday purchased $1.0075 against $1.0066. The S&P/ASX 200 was on track for a surge of about 1.3% for the week, during which Australia's central bank trim its key interest rate by a quarter-percentage point to 2.75%.