Aussie shares creep higher as miners rally, banks drop
Energy stocks and miner have helped Australian shares notch gains despite banks falling. -AAP Image
Australia's share market has ended the session slightly higher, after surging energy stocks and miners balanced weakness in the heavyweight banking sector.
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The S&P/ASX200 rose 12.1 points on Wednesday, up 0.14 per cent, to 8,820.6, as the broader All Ordinaries gained 13.3 points, or 0.15 per cent, to 9,151.8.
Oil prices surged to 11-week highs amid ongoing instability in Iran, helping energy stocks lead seven other sectors higher.
Financials slipped 0.7 per cent as all four big banks lost ground, with signs of liquidity rotation into red-hot raw materials stocks, which gained 0.9 per cent and reset their segment record for a second straight session.
The Australian dollar was buying 66.96 US cents, down from 67.09 US cents on Tuesday at 5pm.
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