Stocks ease despite retail suprise

Stocks sagged in thin trading despite better than expected retail sales figures

The Australian stock market has reversed early gains to close lower despite an unexpected boost to retail sales.

At the official market close of 1615 AEDT, the benchmark S&P/ASX200 index was 0.38 per cent lower at 5,390.5 points, while the broader All Ordinaries index was 0.41 per cent lower at 5384.2 points.

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By a staff reporter

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