End-of-day summary:
The share market clawed back most of its early losses as gains in Telstra, property trusts and some banks helped offset early pressure from miners.
The ASX 200 slashed an opening fall of 48 points to just 13 points or 0.16% by the close. A day after announcing price increases to mobile plans, Telstra rallied 2.41% to a three-month high. Star Entertainment put on +3.06%, ANZ +1.4%, Transurban +1.13% and QBE +1.12%.
Those gains helped offset declines in the resources space after a rise in the US dollar pressured iron ore and base metals. The big three bulk metal miners - BHP, Rio Tinto and Fortescue - all lost at least 1%.
The threat of further rate hikes has kept the Australian market in a sideways trading band while Wall Street logs one record after another. The S&P 500 inched up 0.07% overnight to its 36th record close of 2024.
