Aust shares continue to slide The Australian share market has closed lower as the political impasse in the United States over the budget and debt ceiling continues to spook investors. But Lonsec senior client adviser Michael Heffernan said shares had not performed too badly despite the uncertainty created by the lack of progress among politicians in the US. "It looks like excessive nervous tension (about the US) has been allayed somewhat," he said. Mr Heffernan said investors believed that US politicians would resolve their differences over policy eventually, and avert a possible US government debt default on October 17. A debt default could be disastrous for financial markets. "There's a good confidence that the American politicians aren't completely stupid," Mr Heffernan said. Several pieces of encouraging local economic data also soothed investors a little. Job advertisements rose for the first time in six months, a sign that the labour market is stabilising. Business confidence has also hit a three-and-a-half-year high. Mr Heffernan said the focus on the US political deadlock could shift as US companies start to release their quarterly earnings reports, while local unemployment data is due out on Thursday. The major banks closed mixed on Tuesday, with Westpac shedding 25 cents to $31.98, National Australia Bank losing 21 cents to $34.19, ANZ dropping two cents to $30.44, and Commonwealth Bank gaining 35 cents to $71.10. In resources, BHP Billiton was two cents richer at $34.70, Rio Tinto lifted 25 cents to $60.25 and Fortescue Metals lost nine cents to $4.69. Sims Metal Management firmed three cents to $9.68 after the company named former Harsco Corporation executive Galdino Claro as its new chief executive. Takeover target Warrnambool Cheese jumped 72 cents to $7.18 as Canadian diary giant Saputo joined the takeover battle for the dairy producer, with a $390 million takeover bid. The benchmark S&P/ASX200 index dropped 11.7 points, or 0.23 per cent, to 5,149.4 points. The broader All Ordinaries index lost 12.5 points, or 0.24 per cent, to 5,148.1 points. The December share price index futures contract was 15 points lower at 5,142 points, with 23,541 contracts traded. The price of gold in Sydney was $US1,324.80 per fine ounce, up $US10.52 on Monday's closing price of $US1,314.28. National turnover was 1.59 billion securities worth $4.14 billion.