Australia shares fall 0.2 percent after recent run-up

* Shares (Frankfurt: DI6.F - news) drop 0.2 pct on Thursday

* Analysts expect consolidation after recent rally

* 70 shares up, 116 down, 14 unchanged (Adds analysis, quotes, stocks on the move)

By Swati Pandey and Naomi Tajitsu

SYDNEY/WELLINGTON, Feb 19 (Reuters) - Australian shares took a breather after a recent rally, falling 0.2 percent on Thursday with energy and resources stocks weighing on the index after iron ore, gold and oil prices dropped overnight.

The S&P/ASX 200 index fell 10.98 points to 5,904.7 points by 0143 GMT. The benchmark rose 1 percent on Wednesday to its highest level since May 2008, and is up 9 percent so far this year.

"The market has run up sharply so I'd expect it to pull back over the next few days. We expect some consolidation to happen now," said Shawn Hickman, trader and managing director at Market Matters.

Major banks ANZ, National Australia Bank and Westpac were down 0.1-0.4 percent.

AMP hit a 5-year high after a 32 percent rise in annual net profit.

Energy-related stocks fell after a drop in oil prices overnight. Woodside Petroleum (Other OTC: WOPEF - news) , Drillsearch and Sundance Energy were down 2-6 percent.

Kazakhstan-focused oil company Jupiter Energy Ltd fell 6.7 percent after announcing plans to indefinitely shut production.

Elsewhere, Crown Resorts rose to a five-month high as earnings grew at its flagship local casino.

Shares of Wesfarmers, which runs Coles supermarkets, fell over 2 percent after a poor earnings show.

New Zealand's benchmark NZX50 index slipped 13.1 points or 0.2 percent to 5,728.23 in early trade, weighed by selling in telecommunications company Spark after the company announced a fall in half-year profit.

Spark fell 4.2 percent to a one-month low of NZ$3.17 after the company said that its bottom line was hit by an ongoing fall in income from fixed-line services.

Skellerup fell 3.6 percent to a two-week low of NZ$1.34 after the agriculture company reported a fall in half-year profits.

"Spark had a nice run-up ahead of its results, and investors may have expected more...while Skellerup was considered to be a poor result," said James Smalley, director at brokerage Hamilton Hindin Greene in Christchurch.

Port of Tauranga fell 1.8 percent to a one-month low of NZ$17.30 after the country's biggest port reported a fall in half-year revenue, raising concerns of further weakness given a fall in exports of dairy products, the country's biggest export earner.

Further losses in the index were limited by gains in accounting software developer Xero (Frankfurt: 0XE.F - news) after it said it would expand its product offering to include inventory management.