At closing bell, the benchmark S&P/ASX200 edged down 0.18 point, or 0.00%, to 6,713.92. The broader All Ordinaries edged up 5.77 points, or 0.08%, to 6,952.92.
Consumer discretionary stocks were the bright spot throughout the day as travel-exposed companies were buoyant on news of stimulus for the sector. The government unveiled a A$1.2 billion tourism support package aimed at boosting local travel. Flight Centre Travel Group was the top gainer, adding 9.2%. Corporate Travel Management rose 4.3%, while travel bookings company Webjet climbed 3.8%. Casino and gaming company Aristocrat Leisure, Qantas Airways and Sydney Airport Holdings all clocked gains of more than 2%.
Materials stocks closed mixed. Shares of major miners Rio Tinto and Fortescue reversed course to close up 1.06% and 2.21%, respectively. BHP fell 1.68% on weaker iron ore prices.
In economics news, oil prices lifted on falling U.S. gasoline stockpiles which experienced the largest two-week decline on record. Iron ore shipments from Australia's Port Hedland fell 11.3%/month and 3.4%/year in February. The fall in exports in February was expected given the Lunar New Year period in China and adverse weather conditions.
CURRENCY NEWS: The AUD buys 77.5 U.S. cents having briefly traded at 79.7 U.S. cents.
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