Aust stocks close lower

Markets close lower as the results season results rolls on

The Australian stock market closed slightly lower as investors were unimpressed with the day's company earnings announcements.

At 1615 AEST official market close, the benchmark S&P/ASX200 index fell 0.1 per cent to 5,152.4 points, while the broader All Ordinaries index inched down 0.08 per cent to 5,136.7 points.

CMC Markets analyst Betty Lam said materials found solid support on stronger commodity prices in the day's trade. 

"The big banks recovered from morning losses to operate in early green ranges for afternoon trading," Ms Lam said.

On the company reporting front, Ms Lam said diversified retail giant Wesfarmers Ltd posted a "healthy" net profit result.

"However after further assessment by investors, the stock was received with mixed trading," she said.

IG analyst Stan Shamu said the market was treading water.

"Today's earnings failed to spark any real conviction," Mr Shamu said.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles