Aust stocks flat at noon

Local market gives up morning gains to hover around key 5,400 level.

The Australian stock market is flat at noon, giving up morning gains to hover around the key 5,400 threshold.

At 1205 AEDT, the benchmark S&P/ASX200 index inched up 0.05%, to 5,403.6 points, while the broader All Ordinaries index rose 0.08% to 5,398.7 points.

The United States Labor Department reported the US economy added 204,000 jobs in October, double what analysts forecast, and revisions to the previous two months added another 60,000 jobs.

Locally, in economic news, Reserve Bank of Australia head of domestic markets department Chris Aylmer speaks on Developments in Secured Issuance and RBA Reporting Initiatives, at the Australian Securitisation 2013 Annual Conference.

And the Australian Bureau of Statistics released housing finance figures for September, showing a higher than expected lift.

In Australia, the market on Friday fell as weaker commodity prices weighed down the big miners and banking giant Westpac paid out its dividend.

The benchmark S&P/ASX200 index was down 21.3 points, or 0.39%, at 5,400.7 points.

The broader All Ordinaries index was down 21 points, or 0.39%, at 5,394.4 points.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles