Aust stocks close little changed

Local market finishes flat as iron ore price pushes further south.

The Australian sharemarket has closed little changed today, with a fresh fall in the iron ore price weighing on miners.

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index edged down 7.7 points, or 0.14%, to 5,519.5, while the broader All Ordinaries index fell 7.5 points, or 0.14%, to 5,499.2.

CMC Markets sales trader Betty Lam said the heavyweight miners buckled under the pressure today, after the iron ore price fell further to $US96.80 a tonne.

"Armed with uninspiring leads offshore, Australian equities were poised for a soggy start," Ms Lam said.

"A handful of the largest capped stocks spent the day sitting in losses and kept the Australian market suspended in red for the bulk of the session."

Related Articles