Australia's share market has given up a five-week winning streak, as investors grapple with military conflict, global growth concerns and lofty valuations.
Global stocks fell overnight and the dollar rose as investors, concerned over the United States' possible entry into the Israel-Iran air war, seek safe-haven assets and ditch riskier ones.
Australian shares have edged lower as the Israel-Iran conflict weighed on confidence, while interest rate-sensitive stocks improved on the back of a cooling labour market.
National Australia Bank has been fined $751,200 by the Australian Competition and Crime Commission in relation to alleged breaches of consumer data right rules.
Australia's share market has started the week almost flat, amid escalating conflict in the Middle East, soaring oil prices and the return of inflation risks.
There are calls for a defence contingency plan to be put in place after the government played down a US administration review of the AUKUS submarine pact.
Wall Street ended sharply lower on Friday after Iran launched missiles at Israel in response to intensive Israeli strikes aimed at crippling Iran's ability to build nuclear weapons.
The Australian share market has pared early gains after hitting a fresh record peak, as investors took profits and de-risked ahead of key US inflation data due overnight.
Australia's share market has closed at its highest ever level as multiple sectors rallied on hopes of a trade resolution between the United States and China.
Metcash has announced the creation of the Total Tools and Hardware Group – a merged entity of its Independent Hardware Group and Total Tools Holdings entities.
