Intro:

Fiorente, the favourite, held off Red Cadeaux in a close finish to win the Melbourne Cup on Tuesday (5 November), giving controversial jockey Damien Oliver his third victory in the two-mile classic and trainer Gai Waterhouse her first triumph in Australia's most prestigious horse race.

Script:

A beautiful day and the Melbourne skyline produced the perfect backdrop for what is billed as "the race that stops a nation."

The six and half million dollar Melbourne Cup took place at at Flemington Racecourse on Tuesday.

It is the most important event in the Australian horseracing calendar, and one of the most presitgious races world wide.

The classic race sees horses of three years of age and older compete on a two mile long track.

Former footballer Michael Owen was in attendance, the ex Liverpool and Manchester United striker is the owner of Brown Panther, a Melbourne Cup hopeful.

But it was the 2012 runner-up Fiorente that was considered favourite in the lead up.

The status proved to be deserved as the stallion, with Damien Oliver at the reins, triumphed by three quarters of a length.

The six year old Irish import saw off the challenge of Red Cadeaux, a 60-1 shot. Mount Athos took third place.

Gai Waterhouse, trainer of Fiorente, had previously finished as runner-up in 1993 and 1995.

But the daughter of legendary Australian trainer Tommy Smith was all smiles as she lifted her maiden Melbourne Cup in the sunshine.

As was controversial 41-year old jocker Oliver, winning just two months into his return to riding after serving a ban for betting on a rival horse in 2010.