Aust stocks fall at noon

Local market slips after falls on international bourses as investors pause.

The Australian stock market is lower at noon after falls on international markets despite better than expected United States retail figures as investors pause and consider their next moves.

At 1205 AEDT, the benchmark S&P/ASX200 index fell 0.38% to 5,287.4 points, while the broader All Ordinaries index dropped 0.39% to 5,283.8.

CMC Markets trader Niall King said the subdued performance of the local market has continued this morning, with the majors relatively flat.

"Over recent days, investors in our local market have appeared content to pause and consider their positions having enjoyed a stellar run year to date," Mr King said.

In economic news on Thursday, Reserve Bank of Australia governor Glenn Stevens is slated to give a speech called The Australian Dollar: Thirty Years of Floating at the Australian Business Economists (ABE) Annual Dinner.

In equities news, BHP Billiton, Sonic Healthcare, Goodman Group, Paladin Energy and Ausdrill have annual general meetings scheduled.

In Australia, the market on Wednesday closed lower for the third straight day as investors reacted to negative comments from the head of the US central bank.

The benchmark S&P/ASX200 index dropped 45.2 points, or 0.84%, to 5,307.7.

The broader All Ordinaries index shed 43.2 points, or 0.81%, to 5,304.6.

Related Articles