Aust stocks close slightly higher

The Australian sharemarket has closed slightly higher but edged back from levels not seen since June 2008.

At the 4.15pm official market close, the benchmark S&P/ASX200 index rose 13.2 points, or 0.24%, at 5,531 points, while the broader All Ordinaries index also gained 13.3 points, or 0.24%, to 5,515.5 points.

CMC Markets analyst Ric Spooner said the long weekend was a significant factor today, as cautious investors wait until next week before making any big moves.