The Australian market finished slightly below water today despite an encouraging lead from Wall Street overnight.

The big company news was in the oil and gas space with Santos and Woodside both releasing production figures.

Santos' fourth quarter production was down 9% on-year, while Woodside's production in the fourth quarter dropped 6% compared to the same period the previous year.

Santos finished up 0.3%, whilst Woodside shed 1.9%.

The major miners were stronger despite mixed commodity prices; BHP climbed 0.9% while Rio Tinto managed a 0.2% gain.

Rare earths miner Lynas soared 8.5% after a Malaysian minister said they only have to get a recommendation from the local atomic energy agency before a temporary operating licence will be granted.

The big four were mixed, with NAB the best performer, up 0.9%.

The ASX 200 lost just three points (-0.1%), closing at 4215.

Receive FREE Trading Recommendations, click here.

Evening Market Analysis: Soft Afternoon is a post from: Australian Stock Report Market Pulse Blog