Australian shares traded flat on the last day of the financial year on Tuesday, with banks offsetting losses in mining stocks hurt by weaker gold and copper prices, while investors kept an eye out for minutes from the central bank's June policy meeting.
The S&P/ASX 200 index ASX:XJO was flat at 8,824.90 by 0005 GMT. The benchmark ended 0.7% higher on Monday.
Financials ASX:XFJ jumped 0.8%, rising for another session, with gains amongst the top four banks supporting the sub-index. Top lender Commonwealth Bank of Australia ASX:CBA, rose 1%, while Westpac ASX:WBC gained 1.2%.
Meanwhile, shares of Euroz Hartleys ASX:EZL surged as much as 10.4% to A$1.38, their highest level since March 6. The firm's unit agreed to sell its capital markets business to Canadian banking major Bank of Montreal TSX:BMO for A$145 million ($99.70 million).
Overall gains were offset by mining stocks ASX:XMM, dropping 1.2% following a two-session win streak, hurt by weaker copper prices. Anglo-Australian iron ore giant Rio Tinto ASX:RIO slipped 1.4%.
Sector losses were magnified by gold producers' ASX:XGD 1.5% drop, as bullion prices slipped. Evolution Mining ASX:EVN lost over 2%, and Northern Star Resources ASX:NST dropped 1%.
Investors watched for minutes from the Reserve Bank of Australia's June monetary policy meeting due later in the day, seeking to gauge the central bank's policy trajectory after rates were raised three times this year to curb inflation.
Elsewhere, shares of local KFC operator Collins Foods ASX:CKF surged as much as 7.8% to hit their highest level since March 27, after posting a five-fold increase in annual profit.
Energy stocks ASX:XEJ dropped 0.7% to halt its two-session rally, as oil prices fell on easing hostilities between the U.S. and Iran. Karoon Energy ASX:KAR extended gains, surging as much as 4.7% to its highest level in over a week after unveiling its buy-back intentions a day ago.
In New Zealand, the benchmark S&P/NZX 50 index NZX:NZ50G rose 0.6% to 13,624.08.
($1 = 1.4543 Australian dollars)