Australia's share market has pared some early losses, as investors weigh fresh US strikes on Iran against White House assurances of an impending peace deal.
The S&P/ASX200 fell 34.2 points on Tuesday, down 0.39 per cent, to 8,657.8, as the broader All Ordinaries lost 32.8 points, or 0.37 per cent, to 8,882.6.
Energy and utilities stocks were heavy despite an uptick in oil prices, as investors took profits on hopes a US-Iran peace deal could be negotiated within days, despite US forces striking targets in southern Iran.
The two nations reportedly remain divided on the Hormuz Strait, Tehran's nuclear ambitions and frozen Iranian funds.
Financials weighed heavily on the bourse as all big four banks and Macquarie fell into the red, while insurers and investment firms also faced selling pressure.
