Aust stocks close flat

Local market little changed but traders move out of financials and into materials.

The Australian stock market closed flat today after United States earnings reports failed to inspire and traders moved out of financial names and into materials after a key investment bank upgraded the sector.

At the 1615 AEDT official market close, the benchmark index S&P/ASX200 index inched down 0.06% to 5,305.9 points, while the broader All Ordinaries index also edged down 0.06% to 5,316.4 points.

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