|Published : 29 Nov 2016, 15:16:35|
Australian shares end flat in cautious stance
Australian shares ended a touch lower on Tuesday as investors adopted a cautious stance.
The S&P/ASX 200 index closed 0.13 per cent, or 6.9 points, lower at 5,457.5, at the close of trade.
The "Big 4" banks supported the financial sector, inching up 0.1 per cent to 0.6 per cent.
Those gains were not enough to keep the market in the black as mining giants BHP Billiton and Rio Tinto dropped more than 1.0 per cent.
The iron ore retreated following the pull-back in steel prices from a 31-month high.
Mineral sands explorer Iluka Resources Ltd slid as much as 3.7 per cent, after it hinted at a delay in its proposed 215 million-pound takeover of Sierra Rutile Ltd.
Vocus Communications Ltd plunged as much as 27.4 per cent to its biggest one-day loss in more than 15 years, after the company's earnings guidance disappointed investors, according to a news agency report.