The Australian sharemarket closed slightly higher on Tuesday, reversing an early advance as losses in the banking sector offset strength in utilities and real estate investment trusts (A-REITs).
The S&P/ASX 200 edged up 6.30 points or 0.1% to finish at 7,860.4, with eight of the 11 sectors closing in positive territory.
Utilities led the advance, with Origin Energy rising 2.2%, AGL gaining 1.7%, and Mercury NZ up 2%.
A-REITs mostly climbed, as Goodman Group added 1.1%, Charter Hall advanced 2.8%, and Lendlease edged 0.8% higher.
Major banks pulled back from earlier gains, with Westpac up 1%, ANZ adding 0.7%, Commonwealth Bank down 0.3%, while National Australia Bank dropped 2%.
Consumer discretionary companies also faced pressure, with Tabcorp down 1.6%, Aristocrat Leisure falling 2.8%, and JB Hi-Fi dropping 2.2%.
In corporate news, coal miner New Hope surged 8.9% after reporting a 1H profit of $340.3 million, up 35% on the previous period.
On the bond markets, 10-year and 2-year yields were stable at 4.406% and 3.772%, respectively.
