Australian shares lack direction as financials counter miners

June 17 (Reuters) - Australian shares struggled for momentum on Tuesday, as losses in financials partially offset strong performances among miners, with investors being cautious amid reports of a potential Israel-Iran ceasefire.

The S&P/ASX 200 index .AXJO was flat at 8,547.50 points, as of 0035 GMT. The benchmark closed little changed on Monday.

Reuters reported late on Monday that Iran had urged its regional allies to press U.S. President Donald Trump to use his influence on Israel for an immediate ceasefire, prompting hopes of a possible ceasefire in the Middle East.

"Market participants are feeling around and trying to gauge the temperature of the unfolding conflict between Israel and Iran to get a sense of how big of a deal it could be for asset prices," said Kyle Rodda, senior financial market analyst at capital.com.

On the Australian bourse, heavyweight miners .AXMM gained 0.6% as iron ore price firmed, supported by resilient demand for the steelmaking material. IRONORE/

Mining giant BHP Group BHP.AX added 0.2% while iron ore miner Rio Tinto RIO.AX rose 0.8%.

Information technology firms .AXIJ rose 0.3%. Australian gold stocks .AXGD climbed nearly 1% as the Israel-Iran conflict prompted investors to switch to safe-haven assets.

Among the laggards, financials .AXFJ dipped 0.2% after traders locked in profits in anticipation of heightened market volatility.

The "Big Four" banks lost between 0.1% and 0.6%.

Oil and gas major Woodside Energy WDS.AX lost 0.4% while smaller peer Santos STO.AX gained 0.4%, a day after it received a $18.7 billion takeover bid from an international consortium led by Abu Dhabi's National Oil Company.

New Zealand's benchmark S&P/NZX 50 index .NZ50 was largely flat at 12,703.25 points.

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