Aust stocks close slightly lower

Local market slips amid window dressing as GrainCorp drops on takeover veto

The Australian stock market has closed slightly lower amid window dressing on the last trading day of the month, while agribusiness GrainCorp plummeted after treasurer Joe Hockey blocked a takeover proposal from American giant Archer Daniels Midland.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index fell 0.27 per cent to  5,320 points, while the broader All Ordinaries index fell 0.23 per cent to 5,314.3.

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