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 energy segment dip came despite an overnight uptick in oil prices as the US announced a blockade of oil tankers entering or leaving Venezuela, the boost outmatched by a 2.7 per cent fall in Woodside shares on news boss Meg O'Neill will depart to helm BP.
"Of course, heavyweight Woodside is under pressure following CEO Meg O'Neill's resignation, and that's such a large weighting there, it's dragged the sector down," IG markets Tony Sycamore told AAP.
"And a bit of pain in the uranium space today, with Boss Energy in the red there by about 25 per cent following release that Honeymoon project review, and it looks like its taken some other uranium names with it as well."
The heavyweight financials sector ended the day flat, with CBA the only big four bank to keep its head above water with a 0.7 per cent lift to $155 a share, while NAB and Westpac each slipped around 0.5 per cent.
ANZ edged 0.2 per cent lower to $36.04, as investors rejected its executive pay plan for a second year in a row, following a series of regulatory entanglements.Â
Chair Paul O'Sullivan refused to commit to slashing former boss Shayne Elliott's remaining $8 million in unvested incentives, after Mr Elliott launched legal action against the bank to claw back $13.5 million in stripped bonuses.
Materials stocks edged less than 0.2 per cent higher as large cap miners gained on stronger iron ore prices, helping offset weakness in gold stocks.
Spot gold held relatively steady at $US4,335 ($A6,565) an ounce after running up in recent days as wavering risk sentiment beckoned investors back to the safe haven asset.
The drag on utilities stocks came as Origin dropped 2.5 per cent to five-month lows of $11.05, with both the sector and its giant under pressure since local inflation shocks battered hopes of further interest rate cuts this cycle.
The traditionally defensive sector of consumer staples stock gained 0.6 per cent, tracking with even better gains for Coles and Woolworths.
Discretionary stocks crept 0.4 per cent higher as JB Hi-Fi jumped 1.5 per cent, but vehicle parts provider Bapcor was the best of the segment, up more than 15 per cent after announcing the departure of boss Angus McKay.
Former Jaycar and Mitre 10 New Zealand CEO Chris Wilesmith will step up as chief executive and managing director.
The Australian dollar is buying 66.03 US cents, down from 66.19 US cents on Wednesday at 5pm.
ON THE ASX:
* The S&P/ASX200 rose three points, or 0.03 per cent, to 8,588.2
* The broader All Ordinaries lost 1.5 points, or 0.02 per cent, to 8,875.7
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 66.03 US cents, from 66.19 US cents at 5pm AEDT on Wednesday
* 102.89 Japanese yen, from 102.70 Japanese yen
* 56.22 euro cents, from 56.44 euro cents
* 49.40 British pence, from 49.46 British pence
* 114.57 NZ cents, from 114.61 NZ cents
