Aussie shares wobble as inflation fears loom large
By Adrian Black
Australia's benchmark bourse has dipped slightly, following a lead from Wall Street. -AAP Image
Australian shares have ended the day slightly lower, after resurgent oil prices stoked concerns around inflation and interest rates.
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The S&P/ASX200 fell 9.3 points on Tuesday, down 0.1 per cent, to 9,066.7, as the broader All Ordinaries dipped by 10.5 points, or 0.11 per cent, to 9,260.9.
Energy stocks outperformed the other sectors after renewed US-Iran fighting supported oil prices, stoking inflation fears and sparking buying in the defensive health care and utilities segments.
Resources made up the only other grouping to end the day higher, gaining 0.7 per cent as gold producers held their ground and copper prices inched towards record highs.
The Australian dollar is buying 71.69 US cents, up from 71.61 US cents on Monday at 5pm.
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