The sharemarket has closed flat as investors remain cautious despite easing concerns over potential conflict between Russia and Ukraine.

“There are a few slight concerns, but overall sentiment has improved from what we saw earlier in the week,” IG market strategist Stan Shamu said.

The market was also held back by several other factors, he said.

Investors were waiting to see what the European Central Bank would do with interest rates, non-farm payroll data is to be released in the United States, and risks in the Chinese economy are still being considered.

Markets had also recently enjoyed a strong run upwards and there appeared to be no reason at the moment to push them higher, Mr Shamu said.

A 1.2 per cent rise in retail spending in January had been good for sentiment, but investors were now waiting to see if it could change the Reserve Bank of Australia’s stance on interest rates, he added.

The banks and major resources companies were relatively steady, while healthcare and telco stocks fells.

National Australia Bank was the worst of the banks, falling 19 cents to $34.85, while ANZ added five cents to $32.57, Westpac lifted eight cents to $34.31 and Commonwealth Bank picked up three cents to $75.55.

BHP Billiton shed 14 cents to $37.66, Rio Tinto dropped 23 cents to $64.58 and Fortescue Metals gained 12 cents to $5.41.

CSL dropped 88 cents to $71.24 and Ramsay Health Care shed 55 cents to $48.78, while Telstra was four cents lower at $5.06.

KEY FACTS

* At the close on Thursday, the benchmark S&P/ASX200 index was down 0.3 points, or 0.01 per cent, at 5,445.9 points.

* The broader All Ordinaries index was up 2.4 points, or 0.04 per cent, at 5,459.7 points.

* The March share price index futures contract was down 10 points at 5,443 points, with 24,587 contracts traded.

* National turnover was 2.1 billion securities worth $5.2 billion.