Aussie shares shaky as ceasefire hangs in the balance
Australian stocks are treading water as the world watches developments in the US-Iran ceasefire. -AAP Image
Australia's share market has edged slightly higher, as a fragile ceasefire between the US and Iran hangs in the balance and a key oil transit route remains restricted.
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The S&P/ASX200 rose 21.4 points on Thursday, up 0.24 per cent, to 8,973.2, as the broader All Ordinaries edged 3.2 points higher, up 0.03 per cent, to 9,168.9.
Oil prices rebounded and growth stocks sold off, as the US and Iran accused each other of shifting the key tenets of a two-week truce, and as Israel escalated its attacks on targets in Lebanon, killing more than 250 people.
ASX-listed energy stocks and financials improved, while IT, health care and consumer discretionary stocks came under pressure.
The Australian dollar is buying 70.35 US cents, down from 70.70 US cents on Wednesday at 5pm.
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