Aust stocks close flat

Local market reverses morning losses to close little changed as Syria fears ease.

The Australian stock market reversed early losses to close flat today as nervousness over possible action against Syria eases slightly.

At 1615 AEST official market close, the benchmark S&P/ASX200 index inched up 0.1% to 5,092.4 points, while the broader All Ordinaries index also edged up 0.1% to 5,083.1 points.

IG analyst Stan Shamu said the safe-haven trade reversed in the United States as the Syria situation somewhat calmed.

"Some reports [are] downgrading the threat of a strike from imminent to measured,' Mr Shamu said.

"This relieved equities from some of the pressure they’ve been under since the Syria threat escalated."

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles