Australia's share market has started the week on the back foot, as investors look for signs of progress in US-Iran negotiations after hopes of a breakthrough amounted to little over the weekend.
The S&P/ASX200 edged 14.6 points lower by midday, down 0.16 per cent, to 8,717.4, as the broader All Ordinaries lost 6.5 points, or 0.07 per cent, to 8,958.5.
"Negotiations between the US and Iran remain an outstanding concern and a source of potential volatility going forward," Capital.com senior market analyst Kyle Rodda said.
"Price action points to a market placing its proverbial bets that a deal will get done, despite the apparent differences between both parties regarding Iran's uranium enrichment, nuclear program and control of the Strait of Hormuz."
