Aust stocks close flat

Local market recovers early losses after reports Janet Yellen will chair US Fed.

The Australian stock market closed flat, reversing earlier losses after reports United States President Barack Obama is set to announce a dovish candidate as the new Federal Reserve boss.

At the 1615 AEST official market close, the benchmark ASX 200 index inched up 0.07% to 5,153 points, while the broader All Ordinaries index edged up 0.07% to 5,151.6 points.

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