Australian shares wobble as oil keeps traders on edge
By Adrian Black
Australia's benchmark stock index has fallen for a second consecutive session. -AAP Image
Australia's share market has narrowed an early loss to end the session lower, after commodity prices bolstered energy stocks and miners.
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The S&P/ASX200 fell 9.4 points on Wednesday, or 0.11 per cent, to 8,911.4, as the broader All Ordinaries lost 11.4 points, or 0.13 per cent, to 9,102.9.
Energy and utilities stocks led the market as broadening Middle East conflict sent Brent crude towards the $US100 a barrel for the first time since July, while record copper prices bolstered BHP and Rio Tinto.
Banks and retail stocks swung in the other direction, continuing their decline after Tuesday's dire consumer and business confidence data, while the health care sector also dragged.
The Australian dollar is trading at four-month highs of 72.30 US cents, up from 72.11 US cents on Tuesday at 5pm.
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