The Australian stockmarket finished slightly lower today, after a mostly negative lead from US and European markets overnight.

Despite the market finishing in the red, a majority of sectors finished above water, with IT and telcos the best performers.

Materials stocks were the clear underperformers on the day on the back of weakness in commodity markets.

BHP and Rio Tinto declined 1% and 2.3% respectively.

Ausdrill added 0.9% after reporting an FY12 net profit of $112.2 million, a 53% increase on the prior corresponding year.

WorleyParsons was up 0.5% after posting an FY12 profit of $353.2 million, a 3% fall on the prior year's result.

The banking majors finished mainly weaker, with NAB (-0.6%) and CBA (-0.2%) finishing lower, Westpac finishing flat and ANZ (+0.2%) the only one of the four to close higher.

The ASX 200 shed three points (-0.1%) to close at 4356.

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Evening Market Update: Little Change is a post from: Australian Stock Report Market Pulse Blog