Aust stocks flat at noon

Market remains flat midway through quiet session on account of Labour Day holiday.

The Australian stock market remained flat at noon in a subdued session as four states enjoy the Labour Day public holiday.

At the 1210 AEDT, the benchmark S&P/ASX200 index was 0.11% lower at 5,202.5 points, while the broader All Ordinaries index edged down 0.09% to 5,201.1 points.

New South Wales, ACT, South Australia and Queensland are celebrating the Labour Day public holiday today.

In economic news on Monday, the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for September hit a three-year high, while the ANZ job advertisements series for the same month is also due out.

No major equities news is expected.

In Australia, the market on Friday closed lower as investors become increasingly concerned that the budget impasse in the United States may lead to the US defaulting on its debts.

The benchmark S&P/ASX200 index dropped 26.9 points, or 0.51%, to 5,208 points.

The broader All Ordinaries index lost 26.1 points, or 0.5%, to 5,205.9 points.