The session had a promising enough start, with the S&P/ASX 200 rising to an intraday high of 4074.1 points before midday before dropping off in the afternoon.

“The earlier advances had been relatively broad-based but it seems ongoing scepticism ahead of tonight’s EU summit and end of year tax-loss selling have gained the upper hand,” IG Markets Australia’s Stan Shamu wrote in an afternoon update.

Late in the session, the index slipped into negative territory several times before closing at 4044.8 points, a gain of just 1.6 points.

Meanwhile, the Australian dollar gained some ground today against the greenback and was trading at just over $US1.012.

Spot gold was trading at $1575.77 an ounce this afternoon.

Newcrest Mining added 0.5% or A10c to $21.95 while Regis Resources increased by 2.9% or 11c to $3.89.

Independence Group jumped 4.1% or 13c to $3.29 after increasing the gold resource at its Karlawinda project.

BHP Billiton gained 0.4% or 13c to $30.73 while Fortescue Metals Group climbed by 0.6% or 3c to $4.88.

Gindalbie Metals was a standout, jumping 6.5% or 2.5c to 41c after announcing the start of commissioning of its new power line late yesterday.

Yancoal Australia listed on the ASX after completing a takeover of Gloucester Coal, with its shares closing at $1.34 on the first day.

Sundance Resources shares were halted ahead of news of its takeover by Hanlong Mining.

Juniors Eclipse Uranium and Pluton Resources both requested halts over transactions.

Condor Blanco resumed trading after a two-day halt and soared 49% or 2.3c to 7c following the announcement of the acquisition of a magnetite tailings operation in Chile.