Australian stocks fell 1.2 percent on Tuesday after fresh financial sector worries saw Wall Street stocks plumb a 12-year low, though rises in gold miners helped keep overall losses in check. The market was also held back as a number of major stocks, including miner BHP Billiton and conglomerate Wesfarmers , traded without rights to their dividend. Gold miners gained on speculation the price of the precious metal could be on the rise again as investors seek stability in volatile markets worldwide. Analysts said the Australian market was showing some resilience, reflecting a view that the local economy was better placed to withstand the global crisis and that any bad news from local companies had been factored in. "The November lows are not too far away, and there's a likelihood we may test them, but we are in the last week of reporting season and most of the worst news has already been absorbed," said Jamie Spiteri, senior dealer at Shaw Stockbroking. The benchmark S&P/ASX 200 index <.AXJO> was 38.9 points lower at 3,312 by 2349 GMT. The index fell 1.5 percent on Monday to a one-month low. It had fallen to a five-year low in November. New Zealand's benchmark NZX 50 index <.NZ50> fell 1.9 percent to 2,491. STOCKS ON THE MOVE * Agricultural services firm Futuris was among the top gainers a day after it said it had sold a further stake in Australian Agricultural Co to a Middle East investor. Futuris rose 7.7 percent to A$0.28, recouping some of the previous session's near 15 percent slide. AACo remains on trading halt. 2346 GMT * Gold miner Newcrest Mining rose 0.7 percent to A$32.93, Lihir Gold gained 2.9 percent to A$3.53 and Sino Gold , which announced it had received a loan from a Chinese bank, was 1.5 percent higher at A$5.56. For more on gold price movements, see [GOL/]. 2343 GMT * Contact Energy , New Zealand's largest listed power company, fell 3.3 percent to NZ$5.85, its lowest in more than four years, after the company reported a 79 percent fall in first half net profit. [nWEL118584]

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