Aust stocks fall at noon

The Australian stock market is weaker at noon after falls on global bourses as United States negotiators reached a budget deal to avoid a future government shutdown.

At 1205 AEDT, the benchmark S&P/ASX200 index fell 0.89% to 5,058.7 points, while the broader All Ordinaries index fell 0.85% to 5,065.9 points.

US Democratic senator Patty Murray and House of Representatives Republican Paul Ryan late on Tuesday announced a federal budget deal for the next two years that would avert another government shutdown when US spending authority expires on January 15.

Locally, in economic news, the Australian Bureau of Statistics (ABS) released November labour force data, showing the unemployment rate lifted to 5.8% in the month, compared with 5.7% in October.