S&P/ASX closes lower: Australian shares struggle for momentum as Iran rejects US ceasefire plan amid Middle East conflict; check top gainers and losers

Australian shares saw a slight dip on Thursday. The ASX 200 index closed lower.

Key takeaways

Quick scan — what you need to know:

• Australian shares saw a slight dip on Thursday.
• The ASX 200 index closed lower.
• This followed Iran's foreign minister stating no negotiations with the United States on a ceasefire plan.
• Iran had dismissed an American proposal earlier.

Background

What led here, in plain terms:

• Heavyweight miners and gold stocks faced losses.
• Financials, however, saw gains.
• Nickel Industries and Megaport Limited were the bottom performers.
• Australian shares saw a slight dip on Thursday.

Why it matters

Why readers and decision-makers should care:

• Iran had dismissed an American proposal earlier.
• Heavyweight miners and gold stocks faced losses.
• Financials, however, saw gains.