Aust stocks close little changed

Local market pulls back from fresh five-year intraday highs to finish flat.

The Australian stock market has closed little changed after pulling back from fresh five-year intraday highs reached this morning.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index inched down 0.12% to 5,433.8 points, while the broader All Ordinaries index edged down 0.11% to 5,444 points.

By 1035 AEDT the benchmark index had hit as high as 5461.7, its highest point since the week of June 9, 2008.

Meanwhile, the All Ordinaries also pushed into record territory. The index touched as high as 5471.8 points, also a fresh five-and-a-half year high and again the highest point since June 2008.

IG chief market strategist Chris Weston noted the failed break on the benchmark index this morning, which followed similar moves on Wall Street.

"After hitting a high of 5461.7, good selling came into the market, pushing the index back below the October high of 5457.3," Mr Weston said.

"Again a small but psychologically important win for the bears."

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