Aust stocks close flat
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The Australian stock market closed flat today as company earnings reports failed to impress investors.
At 1615 AEST official market close, the benchmark S&P/ASX200 index edged down 0.01% to 5,157.4 points, while the broader All Ordinaries index inched 0.01% lower to 5,141 points.
IG analyst Stan Shamu said weakness in the market was mainly due to falls in some of the majors that reported today.
"Results from sector leaders failed to attract buyers at higher levels," Mr Shamu said.
The Commonwealth Bank posted a record full-year cash profit that beat estimates but did not pay a special dividend as some analysts expected.
"After a big run up into the result, there was always a risk that the result would be greeted by sellers unless it came in significantly above estimates particularly on the dividend front," he said.
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