SYDNEY: Australian and New Zealand share markets barely moved on Tuesday, initially tracking commodity prices and global markets lower earlier in the day before rebounding to close up slightly.

The S&P/ASX 200 index edged up 0.07 percent, or 3.94 points, to end at 5537.50.

New Zealand’s benchmark S&P/NZX 50 index eased off slightly by 0.9 percent, or 6.92 points, to finish the session at 7310.39.

“We’re essentially just treading water.” said Commonwealth Securities market analyst Steven Daghlian.

Energy and mining stocks led falls, as oil, gold and iron ore prices slid overnight.

Oil players Santos Ltd, Woodside Petroleum Ltd and Origin Energy Ltd declined, as did engineering outfit WorleyParsons Ltd. Santos fell 4.71 percent, Origin 2.9 percent, Woodside 1.6 percent and WorleyParsons 3 percent.

Gold miners lost value after spot gold edged lower overnight. Newcrest Mining Ltd fell 3 percent .—Reuters