Australian shares edge higher as miners take a breather
The ASX has overcome a dip in some mining stocks to finish the trading day with healthy gains. -AAP Image
Australia's share market has clutched a second straight session of gains, but has continued to trade within a tight range as investors mull a host of ongoing geopolitical concerns.
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The S&P/ASX200 rose 32.7 points on Thursday, up 0.38 per cent, to 8,728.3, as the broader All Ordinaries gained 35.1 points, or 0.39 per cent, to 9,053.1.
Raw materials was the only sector to lose ground, running into some profit-taking after breaking its previous record high in the two most recent sessions.
Despite many miners slipping, aluminium, iron ore, nickel, copper and other base metals all rose, after the greenback slipped on softer-than-expected economic data, which supported the case for further US rate cuts.
The Australian dollar was buying 67.06 US cents, down from 67.53 US cents on Wednesday at 5pm.
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