Australian stocks moved lower on Monday despite mounting hopes that the Reserve Bank of Australia will lower its benchmark interest rate amid speculation that unemployment rate rose last month. The Aussie weakened to three-month low on Monday, thus lifting exporters. Market participants also were cautious ahead of the EU finance ministers' meeting due later in the day. The S&P/ASX 200 Index dropped 0.28% to close at 4481.90. Five out of ten sectors within the index gained. The top-performers were industrials and health care companies. Ansell and Cabcharge Australia rose 0.48% and 1.06% while CSL gained 0.48%. On the downside, were financials and technology companies. ASX, Centro Retail Australia and Bank of Queensland dropped by 0.20%, 1.39% and 4.11%, respectively. Meanwhile, Aquila Resources plunged 1.12% after announcing that capital and operating costs for West Pilbara Iron project rocketed to 7.4 billion Australian Dollars.