Weak performances from banks, gold stocks and major miners have dragged the ASX lower, despite hopes of Middle East de-escalation boosting the Australian dollar to four-year highs.
The S&P/ASX200 fell 23.7 points on Thursday, down 0.26 per cent, to 8,955, as the broader All Ordinaries lost 7.5 points, or 0.08 per cent, to 9,173.6.
The top 200 was unable to hold above 9000 points for a third straight session, indicating a lack of conviction for it to push beyond the psychological level, despite global equities rallying on hopes the US and Iran are keen to resolve their conflict and ease its resulting energy shock.
The Australian dollar is trading at its highest price since June 2022, buying 71.90 US cents, up from 71.38 US cents, on a brighter growth outlook and an unwinding of safe-haven greenback accumulation.
