Australian edge higher as lumbering banks cap progress
Australia's stock market has closed slightly higher, giving up gains made at the start of trading. -AAP Image
Australia's share market has handed back most of its early gains to limp higher, as investors held back ahead a key inflation data release.
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The S&P/ASX200 rose 11.9 points on Tuesday, up 0.14 per cent, to 8,537, as the broader All Ordinaries gained 23.8 points, or 0.27 per cent, to 8,824.2.
A sell-off in the banking sector all but wiped the progress from a solid day for raw materials and IT stocks, as traders mulled an expected uptick in October inflation figures due on Wednesday.
The Australian dollar has been steady against the greenback, buying 64.54 US cents, down slightly from 64.63 US cents on Monday at 5pm.
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