Australian shares concluded largely unchanged on Thursday as losses in financial majors counterbalanced gains in the mining and energy sectors.

Investors were nervously focused on the Federal Reserve’s latest meeting minutes, indicating anxiousness about potential premature rate cuts.

The S&P/ASX 200 benchmark index wrapped up the trading day relatively flat at 7,611.20 points, after experiencing a decrease of 0.7% on Wednesday.

According to Treasury notes from the Federal Reserve’s meeting at the end of January, officials appear unhurried to reduce rates, although they expressed certainty that policy rates could be trimmed later in the year.

Tim Waterer, top market analyst at KCM Trade, reflected that investors may have to hold on for several more months before the first rate cut from the Federal Reserve is seen.

Heavyweight financials witnessed a dip of 0.2%, with ‘big four’ banks experiencing a fall between 0.1% and 0.4%.

Conversely, mining sector edged 0.1% higher with Fortescue (ASX:FMG) recording a rise of 2.1% following the release of a better than expected half-year profit report and a dividend announcement.

Healthcare stocks likewise saw a 0.3% increase, with biotech colossal CSL (ASX:CSL) growing by the same percentage.

Energy stocks (ASX:AXEJ) snapped a three-day losing streak and increased by 0.5% with sector leading Woodside Energy (ASX:WDS) rising by 0.8%.

CSR (ASX:CSR) witnessed its stocks soaring to an almost 18-year high after confirming a takeover offer worth A$4.30 billion from France’s Saint-Gobain.

However, Qantas (ASX:QAN) tumbled 6.8% to register its worst session in a year, following the announcement of a lower half-year profit.

Fortescue (ASX:FMG) is a globally significant iron ore producer and explorer, with majority of its assets based in Australia.