Aust stocks close flat

Local market moves sideways after RBA gives little away in minutes, flags scope for further cuts.

The Australian stock market has ended its long run of record gains to close flat after the Reserve Bank of Australia said it was open to more cuts in the official cash rate – but not yet.

At the official market close of 1415 AEST, the benchmark S&P/ASX200 index edged up 0.06% to 5251.2 points, while the broader All Ordinaries index was 0.07% higher at 5245.2 points.

IG market analyst Stan Shamu said investors were looking for clarity following the RBA's previous statement, but found none.

"The minutes were as neutral as possible," he said.

The run of gains in the local market began on September 6, the day before the federal election, and saw it reach new five-year highs and rise on six out of seven trading days.

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