Australian shares pare early gains with banks sluggish

The ASX rose but some poor performances from the big banks and miners dragged on the bourse. (Bianca De Marchi/AAP PHOTOS)

Australia's share market has pared early gains for a relatively flat finish after hopes of easing US-Iran tensions came up against weakness in some of Australia's largest companies.

The S&P/ASX200 rose 7.9 points on Wednesday, up 0.09 per cent, to 8,978.7, as the broader All Ordinaries lifted 16 points, or 0.17 per cent, to 9,181.1.