Flat after mixed overseas leads: Afternoon market insights

The Australian sharemarket is largely flat after the government confirmed it was scrapping the carbon price floor this afternoon.

The ASX200 rose 0.10% to 4348.0, while the broader All Ordinaries index gained 0.7% to 4376.1.

The Australian dollar softened today, buying $US1.03435 – a one-month low.

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