Aust stocks close slightly higher

Local market edges back from levels not seen since 2008 before long weekend.

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.