Aussie shares flat as health stocks, BHP limit losses
By Adrian Black
Strong performances from BHP and healthcare stocks acted as ballast against broader market losses. -AAP Image
Australia's share market has ended the session slightly lower, despite outsized gains in BHP and healthcare stocks ultimately shielding broader market weakness.
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The S&P/ASX200 fell 3.2 points on Tuesday, down 0.04 per cent, to 9,070, as the broader All Ordinaries slipped 4.8 points, or 0.05 per cent, to 9,274.2.
Double-digit share price gains in CSL and Pro Medicus drove a stellar eight per cent rebound in the healthcare sector, which had tumbled by more than half since roughly a year earlier, as investors bet the bottom was finally reached.
A $US9.8 billion ($13.8 billion) annual post-tax net profit helped lift BHP to $64.24 a share, but the broader materials sector was under pressure as US-Iran relations deteriorated, sending oil prices higher.
The Australian dollar is buying 71 US cents, down from 71.22 US cents on Monday at 5pm AEST.
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