SYDNEY/WELLINGTON, July 26 (Reuters) - Australian shares tracked commodity prices and global markets lower on Tuesday, while New Zealand shares barely moved.
The S&P/ASX 200 index .AXJO was down 17.56 points to 5,515.7 percent at 0155 GMT, 0.32 percent lower than Monday's close.
"We're essentially just treading water." said Commonwealth Securities market analyst Steven Daghlian. "It is just the third time in close to three weeks we are losing ground and it is partly due to lower commodity prices last night, and the US markets pulling back a touch."
Traders are watching an inflation figure due Wednesday for clues on the Australian central bank's next move, he said.
Energy and mining stocks led falls, as oil, gold and iron ore prices slid overnight.
Oil players Santos Ltd STO.AX , Woodside Petroleum Ltd WPL.AX and Origin Energy Ltd ORG.AX declined, as did engineering outfit WorleyParsons Ltd WOR.AX . 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 NCM.AX fell 3 percent and Independence Group IGO.AX , which operates the Tropicana gold mine in West Australia, shed 3.9 percent.
Dalian iron ore DCIOcv1 has edged down 0.45 percent this week and shares in ore miners fell Tuesday. BHP Billiton (LON:BLT) Ltd BHP.AX dropped 1.6 percent on Tuesday, and Rio Tinto (LON:RIO) Ltd RIO.AX slipped 0.4 percent.
Consumer goods retailers edged up, after a weekly ANZ-Roy Morgan confidence indicator showed a rise in consumer confidence following four weeks of falls.
Electronics retailer JB Hi-Fi added 3.3 percent, department store owner Myer Holdings Ltd MYR.AX 2.41 percent and vitamin seller Blackmores Ltd
Financial stocks also gained, led by Clydesdale Bank CYB.AX , up 1.7 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was unchanged, hovering around record highs, at 7,317.47.
"It's not bad given overseas markets were a bit weaker. Our market remains underpinned, not just by yield investors but by ones looking at some areas where they believe prospects look very good," said Hamilton Hindin Greene broker Grant Williamson.
The biggest gainers were hotelier and gaming company Sky City SKC.NZ up 1.2 percent and property fund Stride Stapled SPG.NZ , 1.5 percent ahead.
Big losers included health and beauty product manufacturer Comvita CVT.NZ , down 1.9 percent.
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