Aussie Stockmarket Flat

By Glenn Dyer | More Articles by Glenn Dyer

The Australian share market closed flat today, following another day of nervous trading as global woes continue.

The benchmark S&P/ASX200 index lost 0.9 points to 2086.1, while the broader All Ordinaries lost 9.4 points to 5163.8.

On the Sydney Futures Exchange, the March share price index contract was 30 points lower at 5085 with 119,064 contracts traded.

The Reserve Bank said the Australian dollar was buying US 92.17 cents.

Spot gold (XAU=) traded at $1085.70 at 4.30pm AEDT.

Investors were wary of property groups, and this could be seen through Centro Properties stock which plummeted as much as 16% to 23.5 cents.

The big four banks were all up, Commonwealth Bank added $0.35 to $37.70, National Australia Bank rose 84 cents to $27.69, Westpac climbed 20 cents to $22.51 and ANZ Bank gained 37 cents to $20.91.

Investment banks also ended in the positive, Macquarie Group added $0.50, or 1.12%, to $45.00 while Babcock & Brown gained 48 cents, or 3.92% to $12.74.

However miners fell heavily on weaker metals prices on the LME.

BHP Billiton lost $1.86 to $35.64, rival Rio Tinto slipped $4.99 to $122.01.

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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