Market recovers from early loses: Afternoon market insights

The Australian sharemarket recovered most of its early losses as the day wore on, boosted by robust capital expenditure figures released by the ABS.

At 3.30pm the ASX200 was 0.53% lower at 4072.4, while the broader All Ordinaries was 0.44% lower at 4130.30.

New figures released today showed capital expenditure rose by a seasonally adjusted 6.1% to 40.002 billion in the March quarter. This was well above the 3.3% rise expected by the market.

Wall Street fell more than 1% and major European markets lost closer to 2% overnight.