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AAP
AAP
Business

FED:Aussie shares edge lower as WiseTech leads IT sell-off

Wisetech United States

Australia's share market has had a bland session as investors weighed progress in US-Iran peace talks, while the local IT sector was hit by a significant stock plunge.

The S&P/ASX200 fell 12.6 points on Monday, down 0.14 per cent, to 8,816.1, as the broader All Ordinaries lost 16.1 points, or 0.18 per cent, to 9,031.2.

A dip in oil prices wasn't enough to send the bourse higher, as the US and Iran agreed to a road map towards a final peace deal within 60 days.

IT stocks weighed on the local exchange, down 4.2 per cent as WiseTech shares plummeted 16 per cent on reports the Australian Federal Police were investigating executive chair and billionaire co-founder Richard White.

The Australian dollar is buying 70.02 US cents, down from 70.12 US cents on Friday at 5pm.

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