Australian shares close lower on concern over Iraq

Share prices closed lower, with geopolitical concerns weighing on sentiment while most stocks involved in the Foxtel/Optus pay TV alliance gained after the alliance received regulatory approval, dealers said.

The S&P/ASX 200 closed down 11.5 points or 0.39% at 2,971.0, off a high of 2,986.6 and a low of 2,964.9, while the All Ordinaries index was down 10.7 points at 2,932.2.