Australia’s sharemarket has struggled to find a clear direction, as strong performances from iron ore producers helped ballast an energy sector that is on track for its worst week since April.
The S&P/ASX200 crept three points higher on Thursday, up 0.03 per cent, to 8,588.2, as the broader All Ordinaries snatched 1.5 points, or 0.02 per cent, to 8,875.7.
Four of 11 local sectors traded lower, led by slumps in energy (-1.5 per cent) and utilities (-1.1 per cent) stocks, while the real estate and consumer staples rose roughly 0.5 per cent in an underwhelming session for volatility.
The Australian dollar was buying 66.04 US cents, down from 66.19 US cents on Wednesday at 5pm.