Aust stocks gain at noon
The Australian stock market pared morning gains at noon after lifts on international markets overnight and the release of a private survey showing a drop in business confidence.
At 1205 AEDT, the benchmark S&P/ASX200 index put on 0.26%, to 5,401.2 points, while the broader All Ordinaries index rose 0.28% to 5,396.1 points.
In economic news, the Australian Bureau of Statistics released September's lending finance figures.
The National Australia Bank's monthly business survey for October showed a slump in business confidence as conditions stayed weak.
Financials were mostly weaker.
ANZ fell 0.3% to $32.04.5 and Commonwealth Bank inched up 0.04% to $78.38.
National Australia Bank lost 0.61% to $34.35, and Westpac dropped 1.15% to $32.74.
Investment bank Macquarie Group lifted 0.04% to $54.20.
In insurance, IAG fell 0.16% to $6.11, Suncorp inclined 0.04% to $13.305, and QBE fell 0.07% to $15.34.
Materials were mostly higher.
BHP Billiton was 0.71% higher at $38.18, while rival Rio Tinto fell 0.23% to $64.92.
Fortescue Metals rose 2.39% to $5.57, while Newcrest increased 1.23% to $9.86.
Whitehaven Coal rose 0.48% to $1.5675.
In energy, Oil Search added 1.07% to $8.53, while Santos lifted 0.98% to $14.945 and Woodside Petroleum gained 0.8% to $39.475.
In equities news, News Corporation announced its first quarter earnings, Incitec Pivot revealed its full year results, SP Ausnet posts first half results and Aurora Oil & Gas releases third quarter results.
Charter Hall Group and BC Iron have annual general meetings scheduled.
In Australia, the market yesterday closed lower as investors put aside a positive lead from US markets and took a breather from a strong run upwards in recent months.
The benchmark S&P/ASX200 index dropped 13.6 points, or 0.25%, to 5,387.1 points.
The broader All Ordinaries index shed also 13.6 points, or 0.25%, to 5,380.8 points.