Aussie stocks close steady
The Australian sharemarket has closed steady, with a number of upbeat earnings reports offering support despite a sell-off in BHP Billiton.
At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index edged up 10.8 points, or 0.19 per cent, to 5,634.6, while the broader All Ordinaries index inched up 10.8 points, or 0.19 per cent, to 5,629.2.
CommSec market analyst Steven Daghlian said the market would have done better if it were not for a slump in BHP shares after investors were disappointed the mining giant declined to announce a buyback with its profit results yesterday.
“The biggest drag by far was BHP, and that wiped out 16 points from the All Ordinaries,” Mr Daghlian said.
“If it wasn’t for BHP’s losses, the market would have been up about half a per cent. BHP is the second-biggest company on the market, so it plays a big part.
“The market wasn’t overly impressed with the results released after the market closed yesterday and this is the first chance to react.”
Source: theaustralian
