Australian shares have opened lower, as losses across the index outweighed gains in oil majors amid rising concerns that Israel might retaliate against Iran by targeting the latter's oil assets.
At 11:40am, the S&P/ASX 200 is 1.09 per cent lower at 8,115.80, with 10 of the 11 ASX sectors in decline, led by Materials, which fell 2.38 per cent.
The SPI futures are pointing to a fall of 82 points.
Best and worst performers
The best-performing sector is Energy, up 1.05 per cent. The worst-performing sector is Materials, down 2.38 per cent.
The best-performing large cap is Ampol (ASX:ALD), trading 2.53 per cent higher at $31.20. It is followed by shares in Woodside Energy Group (ASX:WDS) and Meridian Energy (ASX:MEZ).
The worst-performing large cap is Mineral Resources (ASX:MIN), trading 5.57 per cent lower at $48.85. It is followed by shares in Treasury Wine Estates (ASX:TWE) and Pilbara Minerals (ASX:PLS).
Commodities and the dollar
Gold is trading at US$2676.90 an ounce.
One Australian dollar is buying 68.46 US cents.
