Market fails to inspire faith
T H E A u s t r a l i a n sharemarket closed flat after corporate reports from the tail end of the earnings season failed to inspire investors, who remained concerned about Middle East turmoil.
T h e b e n c h m a r k S & P / ASX200 index was down six points, or 0.12 per cent, at 4,830.5 points, while t he broader All Ordinaries index dropped 2.3 points, or 0.05 per cent, to 4,922.6 points.
On the ASX 24 at 4.15pm AEDT yesterday, the March share price index futures contract was seven points higher at 4,826 points, with 29,889 contracts traded.
A technical glitch at about 3pm AEDT stopped all trades on the Australian Securities Exchange for the remainder of the session, other than in futures. Austock Securities senior client adviser Michael Heffernan said the glitch was unusual, but the market had been lifeless up until that point, despite strong leads from offshore markets. Mr Heffernan said none of the profit results yesterday managed to excite the market.