Australian shares trim losses but miners under pressure
The Australian share market has had another day in the doldrums, dragged down by mining stocks. -AAP Image
Australia's share market has trimmed its early losses on reports of de-escalation in the Middle East, but miners have remained under pressure from heavy commodity prices.
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The S&P/ASX200 fell 20.9 points on Tuesday, down 0.24 per cent, to 8,604.2, as the broader All Ordinaries trimmed 31.1 points, or 0.35 per cent, to 8,824.8.
Basic materials were a drag on the broader exchange, falling more than two per cent after drips in gold, iron ore and copper prices, while heath care, consumer-facing, real estate and communications stocks rebounded.
The Australian dollar is buying 70.56 US cents, down from 71.25 US cents on Friday at 5pm, after the hawkish repricing for US interest rates supported the greenback.
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