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."

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