Aust stocks flat at noon

Local market little changed as consumer sentiment slips, US crisis continues.

The Australian stock market was little changed at noon as investors shy away from risk amid the ongoing United States debt ceiling stoush, while local consumer sentiment figures slipped.

At 1205 AEST, the benchmark ASX 200 index had fallen 0.17% to 5,140.4 points, while the broader All Ordinaries index lost 0.19% to 5,138.3 points.

The Westpac-Melbourne Institute Index of Consumer Sentiment fell slightly in October, following a jump in the previous month on expectations of a new government.

IG analyst Evan Lucas warned the issues in the US will affect Australia.

"35% of US treasuries are settled in Beijing with the next major hold of US treasuries being Tokyo," Mr Lucas said.

"These two countries are the biggest drivers in our region and Australia’s number one and two export and import trading partners. The next week is going to be volatile, with one direction trade."