Australian shares flat

Australian shares ended down a tick on Wednesday, with miners holding the market back as investors sold out of stocks dependent on global growth. After Monday's bump up following the European summit, hopes have rapidly faded that the eurozone will stabilise and avoid a recession, leaving the market in the same range-bound trade it has been stuck in for months.
Top miner BHP Billiton fell 0.3 percent, while coal miner Whitehaven Coal fell 1.8 percent. The benchmark S&P/ASX 200 index recouped most of its early losses to end down 2.9 points at 4,190.5, following a 1.4 percent drop on Tuesday. New Zealand's benchmark NZX 50 index lost 8.7 points to close at 3,284.1. Rio Tinto bucked the falls in mining stocks, climbing 40 cents or 0.6 percent.