Aust stocks flat at noon

Local market little changed midway through the session on modest US leads.

The Australian stock market was flat at noon following modest Wall Street gains as data showed United States gross domestic product grew better than expected.

 At 1205 AEST, the S&P/ASX 200 benchmark index lifted 0.03% to 5,053.6 points, while the broader All Ordinaries index also rose 0.1% to 5,040.6 points.

US GDP grew 1.7% in the second quarter, above the 1.1% pace expected by analysts.

Meanwhile, the Federal Reserve's Federal Open Market Committee concluded a two-day meeting saying economic growth was at a "modest" pace and pledging to maintain its aggressive bond-buying program.

In equities news, NAB chief executive Cameron Clyne is scheduled to speak at an Australia Israel Chamber of Commerce business lunch in Sydney while Deloitte launches its 2013 edition of Queensland Index (a review of Queensland ASX-listed companies).

In Australia, the market on Wednesday closed higher as investors reacted to positive news out of China and uncertainty in the United States.

The benchmark S&P/ASX200 index was up 4.8 points, or 0.1%, at 5,052.0 points, while the broader All Ordinaries index was up 9.4 points, or 0.19%, to 5,035.7 points.

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