Aust stocks flat at noon

Local market little changed in the wake of mixed Wall Street leads.

The Australian stock market was flat at noon after mixed Wall Street leads despite the Nasdaq Composite Index breaching the 4,000 mark for the first time in 13 years.

At 1205 AEDT, the benchmark S&P/ASX200 index inched up 0.02% to 5,353.9 points, while the broader All Ordinaries index edged up 0.02% to 5,347.3 points.

Financials were mostly higher.

ANZ rose 0.25% to $31.87 and Commonwealth Bank added 0.39% to $76.57.

National Australia Bank rose 0.19% to $34.165 and Westpac added 0.74% to $32.76.

Investment bank Macquarie Group inched down 0.02% to $55.05.

In insurance, IAG rose 0.33% to $6.15, Suncorp fell 0.95% to $13.54 and QBE added 0.32% to $15.83.

Materials were mostly lower.

BHP Billiton fell 0.41% at $37.735, while rival Rio Tinto retreated 0.69% to $64.95.

Fortescue Metals retreated 1.29% to $5.745, while Newcrest fell 0.97% to $8.18.

Whitehaven Coal gained 0.98% to $1.545 and Santos lifted 0.69% to $14.54.

Oil Search rose 0.6% to $8.35, while Woodside Petroleum fell 0.18% to $38.35.

The retail sector was mixed.

Wesfarmers fell 0.14% to $44.01, while rival Woolworths added 0.27% to $34.05.

Myer fell 1.74% to $2.82 and rival David Jones rose 2.01% to $3.04.

Harvey Norman rose 0.62% to $3.24, while JB Hi-Fi rose 0.5% to $20.17.

In media, Fairfax Media fell 0.83% to 60 cents, 21st Century Fox was 0.54% lower at $35.725 and News Corp fell 0.62% to $19.18

Ten Network shed 0.88% to 28.25 cents, while Seven West lost 0.44% to $2.26 and Southern Cross Media lifted 0.62% to $1.615.

Blue chip Qantas rose 0.42% to $1.19, while Telstra fell 0.2% to $5.07.

In economic news on Tuesday, Reserve Bank of Australia deputy governor Philip Lowe delivered the keynote address at an International Association for Research on Income and Wealth (IARIW) and University of New South Wales (UNSW) Conference.

In equities news, Woolworths, Harvey Norman, Brickworks, IOOF, Ridley Corporation, Challenger and Kingsgate Consolidated have annual general meetings scheduled.

In Australia, the market yesterday gained thanks to continued positive momentum on Wall Street.

The benchmark S&P/ASX200 index rose 15.8 points, or 0.3%, to 5,346.1.

The broader All Ordinaries index added 16.9 points, or 0.32%, to 5,352.8.

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