Share market closes flat on poor mining trade

By Anita Savage

Others to record gains included Telstra, up 1 per cent, and Qantas, which closed 2 per cent higher.

Market heavyweight BHP Billiton was down 2 per cent as it traded ex-dividend while Rio Tinto fell 1 per cent.

On the positive side, all four big banks closed firmer with Commonwealth up 0. 25 per cent and NAB rising more than 0. 5 per cent.

The share market has closed flat with gains in the property and banking sectors weighed down by mining sector losses.

Falling iron ore prices also dragged on the market with BC Iron down 6 per cent.

At 5:00pm (AEST), West Texas Crude oil was trading at $US92. 87 cents a barrel and Tapis Crude in Singapore was selling for $US103 a barrel.

Insurance giant AMP fell almost 2 per cent as it went ex-dividend.

Read more here: ABC


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