The Australian share market closed barely higher in a choppy session today, despite a rally in United States markets overnight.
CMC Markets market analyst David Land said today had been another volatile session on the local bourse.
"It's pretty much square for the day, and the market's moved
over a large trading range through the course of the session," Mr Land said.
"There's been some large down days in recent sessions and that does create a bit of nervousness around the market."
Mr Land said the local bourse did follow the US lead in early trading but then succumbed to nervousness.
At the 1615 AEST close, the benchmark S&P/ASX200 index was 9.2 points higher at 6021.0 while the All Ordinaries added 5.6 points to 6055.9.
On the Sydney Futures Exchange, the September share price index contract was 22 points higher at 5994 on a volume of 25,382, according to preliminary calculations.
Among mining stocks, Rio Tinto lifted 10 cents to $88.82 despite analysts trimming back forecasts for the miner's full-year results.
Rio yesterday reported earnings for the first six months that fell short of expectations.
BHP Billiton gained 44 cents to $36.69.
Iron producer Mount Gibson Iron surged 22 cents to $1.535 after it received state government approval for one of its mining projects in Western Australia.
Oil and gas producer Woodside Petroleum improved 39 cents to $42.73, but Santos reversed 23 cents to $12.59.
In the banking sector, the National Australia Bank was steady at $38.00, the Commonwealth Bank put on 11 cents to $53.31, the ANZ gained 21 cents to $28.16, and Westpac dipped 12 cents to $25.80.
On Wall Street overnight, the Dow Jones industrial average gained 100.96 points to 13,463.33.
- AAP
