Aust stocks close slightly lower

Local market breaks a ten-day streak of higher prints but stays above 5,100 level.

The local market edged slightly lower today, breaking a ten-day streak of higher closes.

At 1615 AEST official market close, the S&P/ASX 200 benchmark index edged down 0.11% to 5,111.3 points, while the broader All Ordinaries index inched 0.1% lower to 5,093.8 points.

IG markets analyst Chris Weston said the firm election date had not affected the markets.

"We always knew it would happen, it was just a timing issue," Mr Weston said.

But corporate issues had been weighing on the market, as Virgin Australia Holdings Ltd flagged a fiscal 2013 loss of between $95 million and $100 million, he said.

A fall in the Nikkei was likely affecting sentiment as well, Mr Weston said.

"Although, the Japanese earning season is going well with 70% of companies having reported quarterly earnings."

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