Aust stocks close flat

Local market remained steady at the close but performed well compared to the rest of the region.

The Australian sharemarket closed flat this afternoon, as tensions in Ukraine and weaker US leads continued to leave investors cautious. 

Traders are also keenly awaiting financial reports from Macquarie, ANZ Group and others this week.

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index rose 5.1 points, or 0.09%, at 5,536.1 points, while the broader All Ordinaries index also edged up 0.6 points, or 0.01%, to 5,516.1 points.

IG Market’s Chief Strategist Chris Weston said despite remaining relatively flat, the ASX 200 was the “regional outperformer of the day”.

“Utilities and financials have put in the points, with the financial sub-sector looking like a thing of beauty from a trend perspective,” Mr Weston said.

“As long as the market continues to support this sector and pullbacks remain as shallow as they have been, the broader market should continue finding support.”

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