The big miners pushed the Australian share market higher after some record iron ore production reports, but the big banks all made losses.
At the close on Wednesday, preliminary figures indicated the benchmark S&P/ASX200 index was 7.6 points, or 0.14 per cent, higher at 5,518.9.
The broader All Ordinaries index was up 8.8 points, or 0.16 per cent, at 5,504.5.
The September share price index futures contract was 13 points up at 5474 with 22,912 contracts traded.
National turnover was 1.7 billion securities worth $3.4 billion.
Offshore events over the last day were also key drivers.
China's strong quarterly GDP growth had a positive effect on the miners but US Federal Reserve chair Janet Yellen's voiced concerns about the price of technology stocks and new Portuguese debt worries weighed on some Australian sectors.
"That uncertainty was hanging over our market today," Australian Stock Report senior equity analyst Benny Sada told AAP.
"It has been the case for the last six months with our market struggling for direction ... when one sector is outperforming like the mining sector that has been offset by weakness in financials, which makes trading and investing frustrating."
The gains by the big miners were driven by Rio Tinto and Fortescue Metals Group' strong June quarter iron ore production reports.
Rio increased by 84 cents to $63.94 and FMG leapt 27 cents, or 6.3 per cent, to $4.58 while BHP Billiton lifted 22 cents to $38.25, according to preliminary closing data.
Commonwealth Bank dropped 15 cents to $81.35, Westpac shed 18 cents to $33.89, NAB fell three cents to $33.98 and ANZ lost 8 cents to $33.15.
Qantas was also down, dropping 2 cents to $1.245, with investors unimpressed on the federal government's partial raising on foreign investments caps on the airline.
