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Australia shares recover from session lows on business spending plans
May 29, 2014 / 6:37 AM / 3 years ago

Australia shares recover from session lows on business spending plans

(Updates to close)

SYDNEY, May 29 (Reuters) - Australian shares ended almost flat on Thursday, recouping some of their early losses as data showing higher spending plans for businesses supported sentiment, though a slide in miners checked overall buying interest after iron ore prices fell to a 20-month low.

Australian business investment fell again in the first quarter but spending plans for 2014/15 were revised higher, a positive sign for the economic outlook.

The S&P/ASX 200 index fell 7.7 points, or 0.1 percent, to 5,527.2 at the close of trade after touching an intraday low of 5,503.6. The benchmark added 0.3 percent on Wednesday.

New Zealand’s benchmark NZX 50 index finished flat at 5,183.2. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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